The project is progressing well, and you have now been asked if there is enough
You need to determine the costs of this mailing (internal and external). You also need to determine the resource requirements and identify any conflicts. Jennifer and you have a working session later this week to pull together the information.
In preparation for the meeting, create a worksheet (in Excel or another spreadsheet tool) that you can use to create the budget for the new mailing.
Pre populate the worksheet with the components of the estimate, and provide directions to Jennifer in a procedures document (in Word) on how to create a three-point estimate for the resulting budget.
Be sure to also include the internal costs.
Also, create a schedule that identifies the deliverables, activities, and resources to produce this mailing.
Using the project schedule you created as a group, identify the resources you will use and what conflicts that may form (in Word).
Justify your choices.
Solution and Explanation:
There are many cost components which needs to be considered, external as well as internal.
1. since our existing material cannot be used we have to get the new material designed in the language of the target country(external Cost)
2. After the marketing material have been designed from external agency, 200,000 to 250,000 pieces needs to be printed.
3. since it is a new international market, we do not have mailing address of the target audience, hence we need to purchase the mailing address from some external marketing agency.(external Cost).
4. since we have to mail these marketing material to international destination the cost of mailing would be high and we have to get the quotation from postal services for mailing high volume of material.
following is the template of cost estimation of external costs, during the meeting with Jennifer we need to discuss and find out estimated cost of each line item in the below template to get the estimated budget to create and distribute new marketing mailing.
We also need to consider the internal costs such as time invested of packing the Printed material, labeling the material and coordinating with the postal company for mailing these material.
Sno Particular Qnty total cost
1 Designing New Material in different language 1 0
2 Cost of printing each material 250000 0
3 Cost of purchasing mailing
address from marketing agency 1 0
4 Postal charges of mailing each material 250000 0
Total Cost 0
$8
Explanation:
Profit = Total revenue - Total cost
Total cost = variable cost + Fixed cost
Variable cost = 300,000
Fixed cost = 420,000
Total cost = 720,000
Total revenue = 80,000 x q = 80,000q
Profit = 80,000
80,000 = 720,000 - 80,000q
Make q the subject of the formula and solve for q
Q = $8
I hope my answer helps you
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