If You Had 76 Products and $500/Day to Spend on Advertising...
This is a real-life question for a real-life scenario.
I have 76 different products. Some products produce many sales whereas other products produce no sales. Likewise, some products can spend more than others on advertising while others spend a max of less than $1/day.
If I have Sales Quantity and Cost data, how do I determine the best way to spend $500/day?
I'm trying to determine the optimal allocation of budget across many products that have constraints (may produce sales but can't spend a lot per day, may produce costs but does not produce sales, etc).
Please see attach for the scenario!