Neco 2023 Commerce Question 49

To launch a new product, a company must reach a target market of 200,000 consumers. It can use any two of the following media: TV, social media, direct mail. Their effectiveness (percentage of the target reached) and cost per thousand consumers are: TV - 35 % at \(\text{₦}12{,}000\); social media - 25 % at \(\text{₦}4{,}000\); direct mail - 15 % at \(\text{₦}2{,}500\). The total budget is \(\text{₦}1{,}200{,}000\). Assuming the reach is proportional to the amount spent and there is no overlap, which pair of media should be chosen and how should the budget be allocated (in whole thousands) to maximise the number of consumers reached? State the total number of consumers reached.