Marketing Mix Modeling for Scenario Planning - Recast

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1. This defines the maximum marketing budget we have at our disposal. Solver will show us the most optimal marketing mix based on this value. If we don’t enter this constraint, there is no limit to what the maximum amount we can spend on each marketing channel, and thus the optimal value would tend to be as high as is numerically possible. “We’ve also added a new column Total Spend which is the sum of the marketing spend across the three channels, and which must be kept below the total marketing budget.” Step 3: Launch Solver

   In Channel mix allocation