AutoCAD doesn't give you the option to export an image to Geotiff. You'll need a GIS-essy type of program to do that. For example, ESRI's ArcPro or Arc Map. You can also use Global Mapper by Blue Marble. Using one of these programs will allow you to export to geotiff format. A geotiff has a world file built into the image itself and this built-in file allows the image to geolocate in a drawing where a user has established a georeference. If the user doesn't know how to georeference or georeferences his drawing incorrectly, then no go. The image, regardless of who created it, won't be inserted correctly. A good image cannot be accurately inserted into a bad drawing.
Just as 'effective' is a world file. A world file, when it accompnies an image such as a tiff, jpeg or png, will geolocate the accompanying image. The two files, the image file and the world file, work in tandem and will scale, rotate and position the image against the equator and north pole.
<<The equator and north pole are 'represented' in your drawing by the coordinate system you, the user, has assigned to modelspace. Failure to assigned an appropriate coordinate system to your drawing will mess everything up.>>
Example1: MyImage1.tff and MyImage1.tfw. Example2: MyImage2.jpg and MyImage2.jgw. A world file can be created using AutoCAD's Raster Design (not free, it's an add on and will cost you $). Keep in mind in order to create a world file, the drawing hosting the image must be geospatially oriented to begin with. If your drawing isn't georeferenced and a world file is created anyway, then the world file won't be an accurate reference file.
You may also go to the Featured apps tab in the ribbon to search for and purchase an add-on which has the capabilitity to export to geotiff. For example, Featured Apps Tab==>Connect to App Store==>Plex Earth 5D. Plex Earth will give you the ability to 'import' and 'export' world files.
Since line work (vectors entities) can also be georreferenced, there may be other, more appropriate, work flows to accomplish your task efficiently. You don't necessarily have to, must use, someonetoldmetodothis or IsawitonyoutubeandIdontknowbetter have to use a raster. If you can provide a detailed explanation of your existing data and what you want to accomplish a more thorough evaluation can be performed and recommended.
Chicagolooper
