Schank Marketing Research
Schank Marketing Research has just signed contracts to conduct studies for four
clients. At present, three project managers are free for assignment to the tasks.
Although all are capable of handling each assignment, the times and costs to complete
the studies depend on the experience and knowledge of each manager. Using his
judgment, John Schank, the president has been able to establish a cost for each
possible assignment. These are summarized in the following table.
|HINES CORP.||NBT INC.||GENERAL
Schank is hesitant about neglecting NBT, which has been an important customer in the
past. In addition, Schank has promised to try to assign Ruthman to a study worth at
least $300,000. From previous contracts, Schank also knows that Gardener does not
get along well with the management at CBT Television, so he hopes to avoid assigning
him to CBT. Finally, because Hines Corporation is also an old and valued client, Schank
feels that it is twice as important to assign a project manager immediately to Hines’s
task as it is to provide one to General Foundry, a brand-new client. Schank wants to
minimize the total costs of all projects while considering each of these goals. He feels
that all these goals are important, but if he had to rank them, he would put his concern
about NBT first, his worry about Gardener second, his need to keep Hines Corporation
happy third, his promise to Ruthman fourth, and his concern about minimizing all costs
Each project manager can handle, at most, one new client.
1. If Schank were not concerned about non-cost goals, how would he formulate this
problem so that it could be solved quantitatively? What would be your optimal
2. Develop a formulation that will incorporate all five objectives.
3. Solve this problem using Excel Solver.
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