Excel Solver Tutorial - Step by Step Product Mix …

Nov 08, 2017 · The first marketing mix variable is the product
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Another classic problem that can be modeled as a linear program concerns blending or mixing ingredients to obtain a product with certain characteristics or properties. We illustrate this class with the problem of determining the optimum amounts of three ingredients to include in an animal feed mix. The final product must satisfy several nutrient restrictions. The possible ingredients, their nutritive contents (in kilograms of nutrient per kilograms of ingredient) and the unit cost are shown in the following table.

Product pricing can help your company achieve profitability, support product positioning, and complement your marketing mix.
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This part of our Solver Tutorial takes you step by step through the process of creating a Solver model, using a Product Mix example. We'll first show you how to define the problem and write out formulas for the objective and constraints. Then we'll walk you through two ways to define and solve your model -- in an Excel spreadsheet, or in a Visual Basic program.

The major variable of the marketing mix that uses marketing middlemen is
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Some costs have components that are fixed and some that are variable. One example is wages for your sales force. A portion of the wage for a salesperson may be a fixed salary and the rest may be . When calculating your fixed and variable costs, you should allocate the fixed portion to fixed costs and the variable portion to variable costs. Some depreciation methods that apply depreciation according to the asset's use may be variable or mixed costs -- partly variable and partly fixed.

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In this session you will be introduced to the formulation of linear programming models through a simple product-mix problem called Better Bread Bakery.

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In our example, the goal is to maximize the daily profit. We make a profit of $0.05 on each loaf, so the total daily production of bread yields $0.05 multiplied by the value of the variable for profit.

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A pallet of each type of panel requires a certain amount of glue, pressing, pine chips, and oak chips. The amount of resources used (calculated by the left hand side of each constraint) depends on the mix of products built, and we have a limited amount of each type of resource available (corresponding to the constraint right hand side values). The constraints for this problem are expressed as follows:

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For the production, the corresponding yield is $0.08 multiplied by the value of the variable. We call the values $0.05 and $0.08 the for the corresponding decision variables in the objective function. To get the total contribution towards profit in a day, we add the contributions from the two bread types. From that, we subtract the fixed cost of $4000 divided by 30 days in a month, to obtain the net daily profit. This leads to the following quantity we want to maximize:

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In the section you get a list of the variables in the model, and You will see that for bread the solution suggests that you produce 8000 loaves per day, which is the same amount as the capacity of the mixing department for the bread. For the bread the solution suggests that we produce 3000 loaves per day, which is less than the maximum capacity of 5000 loaves per day in the mixing department.