Download - Summary
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KEYLEARNINGS
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MODULE 1
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COMMUNICATIONMATTERS
• ITS NOT EVERYTHING. ITS ONE THING!
• BE: COHERENT, INTERACTIVE, ENGAGING
• DON’T BE: POOR PACING, WRONG SLIDES, LESS PREPARATION
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Presentation Zen
• Importance of spreading ideas
• Importance of simplicity, restraint, naturalness
• Importance to creativity, simplicity
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Presentations should be….
Nothing superfluous
Minimalistic
Beauty mattersContent matters
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• Adopt a child’s
creativity
• Preparations
• Visuals
• Delivery
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Keep messages sticky
• Simplicity
• Unexpectedness
• Emotion
• Credibility
• Concreteness
• Story
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“Jobsian” Method
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Tahakashi method
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A presentation needs..
• Emotions along with logic
• Passion
• Enthusiasm
• Being in the moment
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Go Global Or Not?
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WHY NOT??
• Need to learn other languages and law
• Volatile currencies
• Redesign the products
• Political and legal uncertainties
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Why should we?• Better opportunities
• Larger customer base
• Reduce dependencies on one market
• Counterattack global competitors
• Consumers going abroad
• Government policies
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Which markets to enter?
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Waterfall approach
• Carefully plan extension
• Less likely to strain human and financial resources
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Sprinkler approachUsed when first mover advantage is crucial and a high degree of competitive intensity prevails
Main risk: substantial resources needed, planning entry strategies
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BRIC Nations
BRIC nations,Indonesia, South Africa.
Unmet needs —> potential markets
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IDENTIFY ”INVISIBLE” CUSTOMERS
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Differences between marketing in developed and developing markets
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20%
80%
Developed nations
Developingcountries
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Revenue from developing markets
• PepsiCo, Kellogg’s - 5-15%• Kraft Foods - >25%• Nestle- >$1 Billion
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Key developingmarkets
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87% low incomegroups
Was once the 2nd largest economy
Costlytransportation
BRAZIL
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RUSSIA
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PROS CONS
Largest exporter of naturalgas,oil, and steel.
Growing middle class andtheir salaries
Income $700/million
1. Poor infrastructure
2. Dwindling workforce
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CHINA
Demand higher qualityproducts
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Indonesia
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Third fastest growing economy
14,000 islands, hot and humid climate leads to inefficient distribution
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SouthAfrica
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Bad roadsWar, famine, AIDS
VOLATILE CURRENCY
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WHICH MARKETS TO ENTER?
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Indirect exporting
DirectExporting
Licensing
Joint venture
s
DirectInvestments
CHOICES
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Indirect and direct exports
Domestic based export merchants
Domestic based export agents
Cooperative organisations
Export management companies
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Licensing
• Licensor issues a license to a foreign company to use a
manufacturing process, trademark, patent for a fee or royalty.
• Licensee gains production expertise/ well-known brand
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ManagementContracts
Contract manufacturing
Franchising
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Joint Ventures
One of the most powerful strategic tools
Good partners share “brand values” help maintain brand consistency across markets.
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Direct Investment
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Foreign InvestmentUltimate goal is direct ownership
1. Secures cost economies through cheaper raw materials, incentives, etc
2. Strengthens image in host country because it creates jobs
3. Deepens its relationship with government, customers,local suppliers, etc.
4. Retains full control over its investment
5. Firms assures itself itself of access to the market
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To what extent should a company adapt its products and marketing strategies to a
country?
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2ways
Global similaritiesand differences
Global productstrategies
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MarketingAdaptation
• Brand name
• Product features
• Pricing
• Packaging
• Advertising
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High end in USA, Mediocre in Dutchyouth in Japan,reliability in USA
High end in Chinamiddle class car in USA
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Product adaptation
Less carbonated and sweeter in few countries
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Brand element Adaptation
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Global Pricing Strategies
• Price escalation
• Transfer prices
• Counterfeit products
• Gray markets
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Price escalation
Set a uniform priceeverywhere
Market-based and cost-basedpricing in each country
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Arm’s lengthprice
DumpingTRANSFER
PRICES
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GRAY MARKETS
A. Harms distributor’s relations
B. Poses risks to customers
C. Accounts for 8% of total global IT sales of $725 billion.
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Counterfeit products
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GLOBAL DISTRIBUTION STRATEGIES
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Country of origin effects
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Country of origin effects
Nissan:Japan :: Japanese driven art and engineering
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Consumer perceptions
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If its French, it’s stylish!
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Manage InternationalRelations
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Exportdepartment
Global Organisation
International Division
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Corporate staffarea specialist
Vice-President
President
Expertise on geographicalarea
Ensures worldwide salesof each product group
Set Goals andBudgets
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InternationalSubsidiariesSubsidiary President
reports to theDivision President
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Global Integration
NationalResponsiveness
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“ ‘Not invented’ here is a good thing, ‘Invented here’ is also a good thing, but ‘improved here’ is the best”- Jack Daniels
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Stages of New-ProductDevelopment
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Challenges
• The Innovation Imperative
• New Product Success
• New Product Failure
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Innovation Imperative
• Works with potential customers
• Lets employees choose projects and appoints project leaders and
teams• “Dabble” time
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New-ProductSuccess
• Established companies use incremental companies
• New companies use disruptive technologies
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What can a company do??
Well-defined product concept.
Technological and marketing strategy.
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New-Product Failure
• Ignored
• Misinterpreted
• High development costs
• Poor design
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Evista, a failed contraceptive, became a $1 Billion-a-year drug for osteoporosis!
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Stages in new productdevelopment
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Idea Generation
• Greatest opportunities——> Unmet needs
• Demand-first Innovation and growth (DIG)
• Nokia’s “Club 10”
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Concept to Strategy
• Positional map
• Rapid Prototyping
• Conjoint analysis
• Business analysis
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Marketing strategyDevelopment
• Target market’s size, structure,behaviour
• Planned price, distribution strategy, marketing strategy for 1st year
• Long run sales and profit goals and marketing-mix strategy
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Development to commercialisation
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Product development• Quality function
deployment (QFD)
• Physical prototypes
• Market testing trial, first repeat, adoption, and purchase frequency
• sales-wave research, simulated test marketing, controlled test marketing, and test markets
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Commercialisation
• When (Timing)
• Where (Geographical Strategy)
• To whom (Target- market prospects)
• How (Introductory market strategy)
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Manage new-productdevelopment
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New product development
Complete process of bringing a product to the market. Improved or replacement products and services that
maintain or build sales.
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• Identify unmet needs
• Research your ideas
• Tax efficient ways to support innovation
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Managing new ideas
• Interact with others
• Interacting with employees
• Studying competitors
• Adopting creative techniques
• Use idea screening
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Support innovation with finance and tax efficient ways
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A new idea should be protected with Intellectual Property Rights (IPR)
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• Adoption: an individual’s decision to become a regular user of a product and is followed by the consumer-loyalty process.
Steps:
1. Awareness
2. Interest
3. Evaluation
4. Trial
5. adoption
![Page 85: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/85.jpg)
Factors affecting
• Readiness to try new products and personal influence
• Characteristics of the innovation
• Organisation’s readiness to adopt innovations
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ADOPTER GROUPS
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To gain “street card” with teen skaters, it sold exclusively to independent shops, advertised nowhere but sports magazines.
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Evolution of “DOVE”
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Earlier Advertisements
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Silvia Lagnado, global brand director of Dove, led a worldwide investigation into women’s responses of beauty
industry.
![Page 91: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/91.jpg)
Natural
Aver-age
At-tractive
Fem-inine
Good-
look-ing
Cute Pretty
Beautiful
So-phisticated
Sexy Stunning
0
0.1
0.2
0.3
0.4
Average
Attractive
Good looking Cute
Beautiful
Sophisticated
Stunning
Findings…
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Dove Tick Box Campaign (Stage 1)
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Change the way world sees beauty (Stage 2)
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“We want to challenge the definition of the beauty. We believe that beauty has become too narrow in definition. We want to defy the stereotype that only young, blond and tall are beautiful.”
-Philippe Harousseau, Dove’s Marketing Director
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Stage 3
![Page 96: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/96.jpg)
Stage 4“Evolution” film
![Page 97: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/97.jpg)
WHY?
• Declining sales
• Increased competition
• Resulting advertising clutter
• Stagnation
• Brand positioning
![Page 98: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/98.jpg)
“Real ads by real women”
• Try the product
• What does “luxury” mean to you?
• Explore the world around you
![Page 99: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/99.jpg)
Media Planning
• Oprah Winfrey dedicated a whole show to low self-esteem
• The Ad was one of the most downloaded commercials on Youtube.
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Bought all billboards in Grand Central Station
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“..behind a 700% risein sales of Dovecreams in the
first half of the year
“…within amonth sales ofthe Dove range
of firming creams had doubled.”
“…surpassed $1 billion mark in 2004 globalsales… expected to gain between $60 million and
$70 million in lotion sales..”
Results..
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PUBLIC RELATIONS
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Global Self-esteem Fund
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Brand Development System
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Development
Product Category
Brand
Unilever
Building thebrand in
specific marketsBringing the brand to life, in
marketplace
Developing idea,innovation
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SWOT Analysis
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Strengths Weakness
• Unconventional
• Effectiveness of advertising• Emotional touch
• Contradictory• Women featured were
comparatively thin
ThreatsOpportunity
• Male customers
• Continuous Innovation
• Risk for being called a brand for
“fat” girls
• Marketing Risk• Undermining the aspirations
of women
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Key Learnings
![Page 109: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/109.jpg)
TakeInitiative
Global Relevance
Case basedMarketing
SocialSensitivity
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Recommendations for future marketing
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Connect campaign to Dove Products
Move away from issues and focus more on products: MakeDove Self-esteem Fund separate from Dove products
Keep real people and customers involved: Take advantage of online buzz with separate websites for products and funds.
Connect women to specific products:“How does Dove make you feel beautiful?”
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Problem:Lost control of the
campaign. Themessage overpowers
the brand
SolutionReal women,Real BeautyCampaign tofocus on how Dove productshelp women
achieve beauty
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Importance to: Customer Relations Management
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Mountain Man Brewing Company: Bringing theBrand to Light
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Mountain Man Beer Company
• Legacy brew with a strong brand
• Premium segment market leader in West Virginia for almost 5o years
• Known as West Virginia’s Beer
• Family owned business
• Core customers: Blue collar working men
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High brand equity in premium segment
2% decline in revenue
4% growth in light beer segment due to youth preference
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Possess 74% market shareof the overall brewing
market
84% market share in thelight beer market
Rely heavily on broadcasting marketas well as product diversification
COMPETITORS
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1,56,20,253 42%
85,53,948 23%
33,47,197 9%
46,48,885 12.5%
5,57,866 1.5%
44,62,929 12%
3,71,91,077 100%
Anheuser-Busch
Miller
TOTAL
Imports
Craft/Specialitybrewers
2nd tier Premium
Coors
East Central Region
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Market Research
• Authenticity, quality, and a unique West Virginia “toughness”- core attributes
• Grassroots marketing is more effective
• Brand loyalty :53%
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East CentralRegion % Total 6-year
CAGR
LightBeer 1,87,44,303 50.4 4%
PremierBeer 73,26,642 19.7 4%
Popular 43,51,356 11.7 5%
ImportedPremium 44,62,929 12 6%
Superpremium 23,05,847 6.2 9%
TotalBarrels 3,71,91,077 100.0
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Introduce light beer under Mountain Man
Cons
• Product cannibalisation
• Brand erosion
• Loss of core customers
Pros
• Increase in revenue
• Low advertisement costs
• Cater untapped market
![Page 123: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/123.jpg)
High advertising costs
Have to build a strong brand
revenue
Untapped markets
Introduce under a different brand name
ConsPros
![Page 124: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/124.jpg)
Costs• SG&A: $900,000 annually
• Advertising: $750,000 for 6 month advertising
• Variable cost: $66.93/barrel
• Variable cost of Light beer: $66.93+ $4.69 = $71.62
• Market price of new light barrel: $97/barrel
![Page 125: Summary](https://reader038.vdocuments.us/reader038/viewer/2022103118/55cae06dbb61eb6a148b4759/html5/thumbnails/125.jpg)
Revenue
• Market price: $97/barrel
• Revenue: $97- $71.62 = $25.38
• Total Investment: $1.65 million
• Break even volume: 65,012 barrels
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Risks attached
• Can get lost in the sea of new product introductions by big companies
• Overly Optimistic
• Advertising not aggressive enough
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Analysis after math
• Mountain Man Light Beer is expected to cover all its investment costs and become profitable past 2007
• Uplift brand value and equity
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Takeaways from this internship:
• Improved presentation skills
• Better understanding of marketing
• Fantastic case analyses• Opportunity to work with eminent
faculty
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Special Thanks to
PROF Sameer Mathur,IIM Lucknow
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