Gce Model Questions Vol1 2019 Commerce Question 30

An advertising agency plans a campaign for a product with a target market of 2 million people. The campaign must achieve an average frequency of 3 exposures per person. The media plan includes TV spots costing \(\text{₦}150\) per GRP and online banner ads costing \(\text{₦}0.05\) per impression. One GRP equals 1 % of the target market exposed once, and each GRP generates on average 0.8 exposures per person. Each online impression provides a single exposure. Due to limited ad slots, at most 2.5 TV GRPs can be purchased. The total campaign budget is \(\text{₦}1,200,000\). Determine the optimal allocation of the budget between TV and online advertising (amount spent on TV and amount spent on online) that meets the frequency target at minimum cost. Give the two amounts in naira, rounded to the nearest naira.