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Table of Contents INTRODUCTION................................................................................................................................4 PESTLE analysis of the Target Market...............................................................................................4 Porters 5 forces analysis of the dairy Liquids market in the UK..........................................................6 Product-what product will Almarai be selling, what is there market position, what are their competitors?.........................................................................................................................................8 SWOT analysis..................................................................................................................................10 CONCLUSION..................................................................................................................................17 REFERENCES...................................................................................................................................18
Illustration Index Illustration 1: PESTEL analysis............................................................................................................6 Illustration 2: Porter five forces............................................................................................................8 Illustration 3: SWOT analysis............................................................................................................12
INTRODUCTION Marketing is the activity that helps in carrying out effective communication between individual and customers in order to sell the products or service. Also, developing effective communication assists in valuing the product or service in order to achieve desired results. Almarai is the largest integrated dairy company in the world and is the market leader in Saudi Arabia and GCC in the dairy segment, which contributes over 50% of its revenue (Cravens and Piercy, 2008). It effective market share was of 27%, 25% and 9% in the dairy, cheese and juice respectively from the 40,000+ retail outlets. The company was formed to transform the traditional dairy farming practice in Saudi Arabia to modern dairy farms and state- of- the- art processing plants in order to meet the demands of the growing domestic population. It is a vertical integrated company and is expanding both horizontally and geographically. Mission: To provide quality and nutritious food & beverages that enrich consumers lives every day. Vision: To be the consumers preferred choice by leading in chosen markets with superior food and beverages product (De George, 2011). Values: Adaptable/Sharing/Passionate/Innovative/Respect and Excellence Organic growth, new business lines and geographically expansion is overall strategic focus going forward. Under organic growth, plans will be to introduce the product mix of Almarai to secure market share and eventually market growth. It might seek alliance within the UK for expansion of its product mix and eventually to the whole of Europe. Key actions or areas: It will be based on the outcome of the marketing audit i.e. SWOT and Porters 5 factor analysis, guiding areas that needs to be explored. It helps in understanding the market size/growth, potential/cost for setting up a new business/profit potential/customer base. This will take into account both the macro and micro environment (Deegan and et. al., 2014). PESTLE analysis of the Target Market The marketing environment consists of actors and forces that affect a company’s capability to operate effectively in providing services and products to its customers. Political and Legal Forces: It can be assessed that there are various legislation developed in order to influence the business operations. For instance, Almarai is required to implement patent legislation so that firm can deliver the products effectively in the UK market. Also, as per the rules and regulations formulated by government it is essential for enterprise to follow proper safety and security legislation for both its customers and employees so that best
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quality services can be provided to them (Dibb, Simkin and Wilson, 2008). Thus, ensuring customer protection legislation so that being a dairy products provider it helps in delivering quality products or services to customers and thus ensure to follow effective safety standard so that results cannot be hindered. Economic forces: 1.'Economic growth and unemployment: The general state of the UK and EU can have profound effect on the growth/expansion. Currently the market is slowly recovery from the ‘credit crunch’ witness during the 2009 economic collapse. UK and part of the EU are slowly growing, but severe contraction remains. High rate of unemployment continues to affect the customer spending power (Koekemoer and Bird, 2004). 2.Interest and exchange rates: Historically has remained low, making credit availability easier, therefore stimulating further business and consumer demands. 3.Leading the way’ growth plan: British Dairy Industry sustainable growth plan: growing share of the domestic and international markets, improving international competitiveness, harness the diversity that exists within the industry to exploit market opportunities and building supply chain relationships (Lee and Carter, 2011). 4.Slowing economic performance in key Eurozone markets, such as France and Germany. 5.Competition from new organic products and increased presence of ‘single attribute’ products with similar perception. 6.Markets in strong growth are likely to suck in imports, for which the organic sources is NZ and some parts of Europe where organic milk supply is tight. 7.Some markets many significant barrier to entry (Maclaran and et al., 2012). Ecological/Physical Environmental Forces: It can be assessed that Almarai is required to develop the use of sustainable resources and thus it does not affect the natural resources so that best results can be attained. Also, company needs to minimize the environmental footprint and pollution so that companies are restricted to not affect the environment through any form. Thus, laws laid down by UK government helps in improving the biodiversity and thus enhance the productivity of firm so that wastage could be reduced (Caemmerer, 2009). Social/Cultural Forces: Here, UK government is required to undertake the changes in the demographic forces and thus produce the product accordingly so that desired objectives can be attained. Also, it is essential for firm to possess different cultural beliefs and values and thus fulfill the social responsibility in order to achieve desired success. Company needs to follow consumerism policy so that quality products or services could be sold so that set targets can be achieved (Codita, 2011). Technological Forces: Almarai is improving its technology in order to improve its supply
chain logistics and thus provide quality products faster to consumers. Further, it is essential for firm to improve efficiency and effectiveness so that technology can be enhanced effectively and efficiently (Glanz, Bader and Iyer, 2012). Illustration1: PESTEL analysis (Source:Gönül and Carter, 2012) Porters 5 forces analysis of the dairy Liquids market in the UK The dairy industry is very fragmented in UK. The biggest dairy producing companies –Dairy Crest, Arla, and Robert Wiseman Dairies- dominate the market, but there are more than a dozen smaller companies that struggle to survive. The 5 forces are threat of entry of new competitors, the threat of substitutes, the bargaining power of suppliers and of buyers and the rivalry between the existing competitors. When the forces are intense, below-average industry performance can be expected; when the forces are mild, superior performance is expected (Graa and Dani-elKebir, 2011). Force 1: Bargaining power of the customers Buyer power is one of the two horizontal forces that influence the value created by an industry, main determinants being size and concentration of customers. Few buyers will easily control/dictate the market. The UK market with population of around 76 million, makes the bargaining power of the buyers low as there are both combinations of major and minor players in the dairy liquid market. As the nature of the industry is daily consumables, the demand for which is price inelastic, consumers will be more focused on the brands and its attributes. Dairy crest holds number one and number two positions for the 5 key brands of the portfolio (Greenberg, 2010). The intense competition in the dairy liquid market will continue in the near future. Supermarkets hold the power over the suppliers due to high volumes that trades on daily basis, also the power to terminate the contract anytime.
Force 2: Bargaining power of the suppliers Dairy industry is predominately is industry with weak supplier power. There is minimal differentiation in the product and the cost of the production, making easier for the suppliers to be switched. Intense competition in the UK dairy industry to recruit more direct suppliers due to other competitors also competing for the same. Supermarkets have high bargaining power. Smaller retail outlets/grocery stores leverage their low-cost base to offer competitive pricing (Cooke, 2000). Force 3: Threat of substitute products The threat for dairy product is lower as the key to success being quality and innovative products. All the major players in the UK are known for quality and innovation of their products. Only threat could potentially come from the organic dairy liquid product due to changing demography of the population and growing health consciousness. This has been circumvented by increase in the premium attached to the product (Das and Samanta, 2015). Force 4: Threat of new entrants Any potential challenge for a new entrant in dairy liquid market is the operational cost associated with land and herds. Ongoing investments to keep up the competitors investments activities. Exit barriersAccess to distribution Force 5: Industry rivalry Competition for market share. With fragmented dairy industry there will be period of consolidation within the industry. This will be more evident with increase bargaining power of the buyers of threats of new entrants, highly unlikely (Dibb and Carrigan, 2013).
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Illustration2: Porter five forces (Source:Foxall, 2000) Product-what product will Almarai be selling, what is there market position, what are their competitors? Products The company’s product profiles includes a numbers of dairy products, deserts, yogurt, labneh, cheese, different flavours of fruit juices, butter & ghee, tomato paste and bakery products. This is bucketed into the following six categories 1.Fresh dairy: Product portfolio consists of fresh laban, milk, natural and fruit yogurts, creams and dairy desserts’. Vetal ( beauty milk for women) 2.Long life dairy: UHT milk and cream, evaporated milk and sterilised cream. ‘Maher The Adventure’ targeting children with benefits of flavoured UHT milk (Kardes, Cronley and Cline, 2012). 3.Fruit Juices: 11 juice flavours, along with world’s first alphonso mango with pulp and regional first green apple. 4.Cheese and Butter: Low cholesterol feta cheese, block cheddar cheese and low fat tinned cheddar cheese, made from cheese imports from New Zealand. 5.Bakery Products: Acquisition of Western Bakeries, products marketed being cupcakes, puffs, mamoul and bread. 6.Other Products: Includes the Almarai range of non-dairy food like tomato paste and jams. 7.Poultry: includes fresh chicken and frozen chicken (Chung, 2000).
8.Baby Food/Infant Nutrition Market Position As per the Nielson’s market study of the GCC countries for dairy, milk, laban, cheese, yogurt and juice market and the 2013 investor report, following trends have been identified with Almarai and its competitors in the GCC market. GCC Dairy Market: Made up of five key product categories which includes laban, fresh milk, long life milk, yogurt and recombined milk. Almarai is the market leader with 35% market share when compared with Nestle (7.6%), Al Safi (7.4 %), Sadafco (6.6%) and Nadec (6.1%) being the other major player. The market is quite fragmented with very high numbers of small players (Hassan and Craft, 2004). GCC Milk Market: Made up of three key categories which includes powder milk, fresh milk and long life milk. Almarai is the market leader with 28.7% market share. Nestle (12.1%) leads the powder milk and Sadafco (10.4%). GCC Laban Market: Made up of four key categories which includes plain regular laban, plain functional laban, plain diluted laban and flavoured laban. Almarai is the market leader with share of 47.5% (Keillor, 2007). GCC Zabadi Market: Almarai is the market leader with shares of 44.8%. GCC Juice Market: Made up of various categories, biggest market share is held by Juice drinks at 46.2 % market share followed by Fresh Juice at 38.3% and Long Life Juice at 11.6%. Almarai is the market leader with 15.6 % followed closely with Rani and Al Rabie. The market is extremely fragmented with low barriers to entry. GCC Processed Cheese Market: Almarai is the market leader with 34.6% market share followed by Kraft at 20.2% and Fromageries Bel at 19.6%. Arla is the fourth major player at 10.2% (Mohr, Sengupta and Slater, 2009). KSA Bakery: Western Bakery is the leader with market share of 23.2% with 7 days with share of 6.9%. Again the market is extremely fragmented. In the UK, Almarai is planning to sell all the range of its product portfolio mostly concentrated around the liquid dairy, cheese and butter. The main competitor in the UK being the dairy Crest (largest UK dairy Company by turnover). Dairy Crest has overall market share for liquid milk being around 34%. Its share in the retail liquid market being 22%, significant supplier to the middle ground market and door step delivery. Other competitor being Arla and Wiseman. Place- Here, it assesses that where Almarai is currently selling their products, and comparison has been done in relation to competitors. Almarai is currently selling their products across the GCC countries that includes Saudi Arabia, UAE, Kuwait, Oman, Qatar and Bahrain. It has also expanded across to Jordon and Egypt (Patro, 2015).
Price- What pricing policy does Almarai have? Do you discount (making some assumptions here) How does this compares to competition? Almarai decides its price on the basis of competition/cost and marketing. Demographic trends like rising population and close to 40% of the population in the 0-15 bracket, demand inelasticity has also added to company growth. It is also affected by the KSA legislation where the food products are highly subsidized. Non-dairy liquid products have lower margins than products from company’s own milk farms. Rising commodity prices and exchange rate volatility has also had impact on the pricing policy (as it sources raw materials from India, Brazil, New Zealand and other European countries). Increase in packaging raw material has also affected the pricing. I will not be discounting (Wedel and Kamakura, 2012). Having excellent distribution drive, lean management program across the supply chain, stock replenishment programme, procurement & operation initiative and manufacturing efficiency has managed operation margins and market shares across the GCC in comparison with the competitors. Promotion- What types of activities are Almarai currently carrying out? It can be assessed that Almarai is currently trying to develop its market base and thus using diverse ways of promotion such as newspaper campaign, radio advertising, offering discounts to consumers, television advertising and billboards so that large number of customers can be attracted in regard to enhance the sales and profitability. With the help of such advertising channel it assists firm to improve the quality of product delivery so that satisfaction can be attained (ADVANTAGES AND DISADVANTAGESOF ALTERNATIVE CHANNELS OF DISTRIBUTION. 2012). SWOT analysis A SWOT analysis is a structured approach to evaluating the strategic position of a business by identifying its strength, weakness, opportunities and threats. Strengths: Professionally managed team and board of directors Publically listed company with shareholders also including founding members of the royal family with around 30% share held with public. Diversified product portfolio with access to the GCC and MENA markets. Highest average yield per cow in comparison with North America, Europe, NZ. Market leader in at least 5 product lines across the GCC (Marketing strategy. 2009). Unmatched supply chain logistic and distribution channel. Lean management chain, improving both efficiency and effectiveness. State of the art processing plants
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Continuous improvements efforts in the standards of health, breeding, farm design, animal husbandry and crop management has resulted in-house technology know-how. High growth rate and operating margins (Rhodes, 2011). Weaknesses: Central processing plants mostly located in Riyadh Depleting water resources Hot acrid weather High rate of employee attrition Product price restricted due to food subsidy by the KSA government New investments in Egypt/Jordon yet to deliver Opportunities: Expansion through organic growth, geographical expansion and new categories. Organic Growth: Increasing market share of its product lines including dairy, juices and bakery, further investment for increasing the production capacities. Also looking at increasing the milking capacity by importing herds (Cravens and Piercy, 2008). New categories: Horizontal expansion into poultry, wheat, vegetables and fodder. Geographically expansion: Jordon/Egypt and Sudan. Currently looking to expand into Europe and UK. This could add an additional 10% to the earnings. Rising population in both the domestic and other target markets. Changing consumer perception to health eating/living leading to further increase in market share both in the domestic and target market. Almarai has product exclusively positioned for this health conscious segment (Koekemoer and Bird, 2004). Threats: Food subsidy in place by the KSA government Reducing margin from the supermarket though with higher market share Increase in prices of raw materials, packaging and imports, further influenced by fluctuating currency price (Codita, 2011).
Illustration3: SWOT analysis (Source:Caemmerer, 2009) Competitor Analysis: Competitor analysis is an important part of the strategic planning process. It is important to understand and monitor the competitors, as their action can easily spoil an otherwise attractive industry, their weakness can be a target for exploitation and their response to a firm’s marketing initiatives can have a major impact on their success. Here, company can develop positioned map so that it helps in visually displaying the perception of customers (Graa and Dani-elKebir, 2011). It is a position of product or brand that helps in displaying the company as well as their relative competition. Sources of competitor information into three categories Recorded data: Financial reports, annual reports, press releases, presentations, companies house Observabledate:Prices,productmixandportfolio,performance,marketshare, promotional mix and communication mix. Opportunistic data: Third party information through customers, suppliers, supermarkets and the distributors (Glanz, Bader and Iyer, 2012). Assumptions: Almarai will be making key assumptions about their business plan for the UK/Europe. They are as follows: Products: Almarai has extensive range of product portfolio which includes fresh dairy, long life, fruit juices, cheese & butter, bakery products, infant formula and poultry. UK diary liquid market is highly fragmented with selective few major players and many smaller players (Dibb and Carrigan, 2013). There is low barrier to entry and the products similar to
what is offered by Almarai has been successfully marketed and sold here. Competitor analysis will also direct me towards the range of products offered by them. Almarai has product range target towards different segments of the population (flavoured drinks for the children, milk for the pregnant women and various flavours within the juices). Sufficient Customer base: Population is steadily rising in the UK and project to reach around 70 million in 2027, with 30% being above age 60. Population has easy access to the products via wholesalers, retailers, small grocery shops and supermarkets. Almarai will be assuming that target market will be 10 times the no of customer base for it to make profit (Chung, 2000). It will be following the build objective and market penetration technique rather the skimming. Profitability: Assumptions will be based out of the market research, budgeting and sales projections. The firm might use pricing strategy that will generate higher sales volumes with low profit margin (again with the build strategic thrust). Management Expertise: Almarai is renowned for its lean management structure that has brought better operating margin with the domestic and wider markets. They will be able to extrapolate those expertise within the UK and Europe with similar or better success. Adequate capitalization: Almarai has embarked funds for investment outside the domestic and their target market for organic growth, new categories and geographical expansions (Hassan and Craft, 2004). SMART Objectives Specific: Introduction of product mix within the target market. Maximising efficiency and effectiveness by marketing strategy around the target market. Measurable: Total sales revenue generated or total profit realised. Targeting market share of 10% following launch of the product mix in the UK (Keillor, 2007). Achievable: Looking at market share of around 10% within the liquid dairy market. Realistic: To achieve the desired market share, distribution network needs to be seamless with better efficiency to be achieved through supply chain logistics. Timed: Plan to be achieved within 6 months. Actual vs projected results analysed every month, to see if any adjustments needed to achieve the desired goals (Kotler, 2011). Strategy Overall strategy will be guided by the outcome of the SWOT analysis and statement of key issue and opportunities to help choose the target market segment to compete and to position the organisation against the competitor (Mohr, Sengupta and Slater, 2009). Target Market: It is the market that Almarai has decided to serve in the UK. Population is steadily rising
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within the UK and Almarai will potentially be targeting mass marketing. For a select few population, health conscious individuals' niche marketing will also been considered. Tailored marketing mix will be applied to the target market with differential marketing strategy will be developed to target the mass market as well as the niche market. SWOT analysis of the competitor within the target market will be useful to understand the competitors and the marketing mix will be accordingly tailored (Wedel and Kamakura, 2012). Market segmentation Behavioural Segmentation(benefits sought, purchase occasion, purchase behaviour, usage, buyer readiness and attitude towards the products). Therefore, it helps Almarai to segment the customers on the basis of their behaviour and thus achieve desired results. Geographical Segmentation: Based on the ACORN system. Also, including those buying at the supermarkets/wholesalers/retailers/local grocery stores (Patro, 2015). Demographic segmentation: Age, Gender, Life Cycle, Social Class, Income, Ethnicity and Educational qualifications. Psychogenic segmentation: It assesses the lifestyle and personality and thus As the barrier to the entry are low and power of the suppliers weak, with majority power being with the supermarkets, Almarai will have access to the mass segment and varieties of the supplier and the supermarkets to achieve its target goals (Cooke, 2000). As the market is completely fragmented within the UK Dairy industry, the competitors might react to Almarai in the following ways: Position defence/Flanking defence/Pre-emptive defence/Counter-offensive defence/mobile defence and strategic withdrawal (Das and Samanta, 2015). Once the target segment has been identified, Almarai will be examining two board issues within the market i.e market attractiveness and capability to compete in the segment. Market Attractiveness: Market Factors: Segment Growth rate: Dairy industry has been returning profits for the major players in the market. Segment Profitability: The segment though fragmented remains profitable with increasing competition within the majors and smaller ones (Foxall, 2000). Price sensitivity: Product is price inelastic and thus it attracts customers to purchase the goods. Bargaining power of the customers: population of around 70 million and huge customer base, reduces the bargaining power. Almarai can position its product as highly differentiated and demand ‘premium’ price.
Bargaining power of the suppliers: There is minimal differentiation in the product and cost of the production which means buyers can easily switch the suppliers. Barrier to market segment entry: It is easier to enter the market segment, reducing profitability of the existing players (De George, 2011). Barriertomarketsegmentexit:Duetofragmentednatureofthedairybusiness, consolidation/M&A has been happening. Positioning Statement and rationale The objective here is to create and maintain a distinctive place in the target market for the Almarai and its product portfolio. Successfully positioning along with the target market/market segment also involves creating differential advantage. Any element of the marketing mix will be used to createdifferentialadvantageforthecustomer base.Productdifferentiation through packaging in different size/shapes/colours/flavours and ongoing addition to the product lines based on the outcome of the market analysis. Promotional differentiation via unique advertising, TV commercial, Bill Boards. Distribution differentiation via making the product available within distance of the customers and making the buying experience seamless (Maclaran and et al., 2012). Price differentiation by giving superior value for money through lower prices, using the build strategy objectives. Successful Positioning relies on four factors- Clarity:Itis essential for Almaria to develop clear positioning in the minds of customers so that clear targets can be attained. Credibility: Differentiation identified has to be clear to the target market, cannot charge premium price for a cheap product. Consistency: Consistent brand image has been created by firm that helps them to achieve success (Deegan and et. al., 2014). Competitiveness: Almarai to manoeuvre itself in a position, when subjected to competition. Branding strategy There are 7 components of comprehensive branding strategy 1.Purpose: “Everything Almarai do, from the cows to the consumer, we do it slightly better than our competitors”. Very focused, detail orientated. Quality is the benchmark for Almarai. Looking ahead: we cannot change the past, only the future. 2.Consistency:Contributestobrandrecognition.Everyelementofmarketingmixworks harmoniously together. Possible use of style guide to further enhance the brand recognition by encompassing everything from the tone of the voice, colour scheme, to product and service positioning (Greenberg, 2010). 3.Emotion: People have innate desire to build relationships and Almarai will continue to build
emotionalconnectionwithhiscustomersbasedondirectcontact,feedbacksfrom questionnaires. This will strengthen relationship and foster loyalty. 4.Flexibility: This relate to the purpose of the firm has highlighted above. Almarai are detailed focused, have daily and weekly performance review (Chung, 2000). 5.Employee involvement: Lean management structure with involvement at the value chain, makes the firm achieve his target. 6.Loyalty: Market leader in 3 of the 5 products across the GCC. Mission statements clearly defined the philosophy based at creating customer value. 7.Competitive awareness: Ability to manoeuvre its position when needed following the outcome of the competitive analysis. Product strategy: The core element of the marketing mix is the product because it provides the functional requirements sought by the customer. Product strategy is the most important function of the company (Kardes, Cronley and Cline, 2012). Almaraiwassuccessfulbecauseofitsuniqueblendofstate-of-the-artproduction infrastructure which includes its farms (both owned and leased), processing units and go-to-market. Its distribution system is un-parallel and supply chain/logistic being world class, creating operating margins better than the competitors (Mohr, Sengupta and Slater, 2009). Product differentiation: First in the GCC to introduce alpanso mango pulp juice and green apple and other juice variety to complement its product portfolio. 2007: acquired western bakery 2009: HADCO and entry into poultry market. Joint venture with Mead Johnson for formula and baby nutrition. Expanded further across to Egypt and Jordon either by acquiring the companies or via joint ventures. Product Positioning: The firms products are easily recognised within the market, equated with positive brand image. With further plan with organic growth, new categories and geographical expansion, 1.6 billion USD is being embarked for the same (Rhodes, 2011). Packaging: The packaging are well done and informative for the customers. They meet all the legal requirement in the environment they operate with emphasis on managing resources and protecting the environment. Pricing strategy Price affects how much of the product is sold, to whom it is sold, what services must go with it and ultimately how much profit the firm makes. As Almarai is planning to expand into new geographically location, setting a price can be one of the most difficult decision. The cost to produce and design a product, its cost to distribute and promote must be included in pricing.
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Pricing the product too low or high could mean a loss of sales for the organisation (Marketing strategy.2009).Almaraifollowscostbasedpricing:takesintoaccountthecostof production/design/distribute and promotion. New product launch can follow either of the pricing strategy Rapid skimming: High price and high promotion expenditure, providing low volume sales with high margins of returns. Heavy promotion creates high levels of product awareness and knowledge. Characteristics of the market being: 1.Productprovidinghighvalues/customershaveabilitytopay/excessdemand/lackof competition (Patro, 2015). Rapid Penetration: Gain market share rapidly with lower prices and heavy promotional expenditure. Characteristics of the market being: 1.Onlyfeasiblealternative/marketpenetrationordominance/makemoneylateror elsewhere/barrier to entry. Distribution strategy:Almarai has fleet of long haul trucks which transport raw material from farms to the central processing plants and then the finished goods are transported from production sites to different sales location. It reaches around 42,000 shops across the GCC on daily basis. It also transports the finished goods across to local grocery stores and the supermarkets. Packaging: All the products are properly packaged and refrigerated so that the products maintain its fresh nature and quality. They emphasis on quality (Keillor, 2007). CONCLUSION It can be concluded from the above study that marketing is required to be carried out effectively in relation to develop effective communication with each other so that set targets can be attained. Hence, by implementing effectual strategy Almarai is required to segment its target market as per the product delivered by firm. It helps firm to enhance their sales and profitability and achieve desired objectives.
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