panera bread marketing strategy

Property Description: 204239 - Westlake Village, CA. Panera Bread has to compete with brands that offer quick service options, (like drive thru windows). What frustrates our customers? Hence this completes the marketing mix of Panera Bread. Panera Bread needs capital to grow its restaurant units. The new pricing strategy which company has named to be a surgical approach of pricing is aimed at location based identifying less price sensitive market and highly price sensitive market. We believe when you have a brand that stands for something, it's not marketing for marketing's sake it's marketing to make a difference. In 2017, Panera Bread was acquired by JAB Holding for $7 billion. If so, you may find out more here. Panera understands that an integrated experience is a cornerstone of staying relevant. You can search our website for events, press releases, blog posts, and more. The paper products are used to pack the food. MyPanera ordering is temporarily unavailable. You must be logged in to submit a comment. Panera hits it out of the park in a lot of ways yummy and wholesome food with clean ingredients, of course, is the main draw but it all gets amplified with their outstanding brand content marketing. Offers may be subject to change without notice. People may receive compensation for some links to products and services on this website. Some its more popular subsidiaries also include Paradise Bakery & Caf and Au Bon Pain. And, in keeping with their health-conscious branding, you can also sort the meal ideas by your dietary preferences or needs: The food shots and close-ups that take up your entire screen always serve to remind you that Panera cares about food quality, including seasonal ingredients that are responsibly sourced, fresh, and, of course, clean. Panera 2.0 which uses online orders from within or outside of stores is aimed at enhancing customer experience by reducing the waiting cues. Effective brand marketing is essential to foster loyalty and connect with consumers. These items included artificial trans fats, MSG, sweeteners, and artificial colors, flavors, and preservatives. Chipotle has long been actively spreading its message about its sustainable meat source, which seems to be working for it. pic.twitter.com/2fHYqpFVzA, Panera Bread (@panerabread) June 11, 2018. According to Panera, items are delivered at cost, which doesnt exceed 27% of the end products retail value. The products can be dinned out or taken away as parcel from their shops. Now, however, Panera has added an annual membership option, which not only saves you on the membership fee but has additional benefits. In fact, it informs their entire brand image and content strategy. Am I appropriately responding to input from audience members? With countless fast casual restaurants on the map, it's hard to . The Fresh Dough segments costs include the cost of sales related to fresh dough and other ingredients company-owned and franchise restaurants require. Join to follow . Are my customers able to access our product or service from any device? For $119.99, you get unlimited drinks every time you visit . In an industry characterized by aggressive competition, Panera Bread has adopted a competitive strategy that provides several competitive advantages. Chris Hollander, SVP of marketing at Panera Bread, answers questions on Panera's brand marketing strategy, embracing transparency, focusing on the customer, and crafting successful loyalty programs ahead of his session at the 2019 ANA Brand Masters Conference, presented by Twitter. After that, both the companys net profit and net margin fell. Convenience is also about removing friction points so customers dont have to go through unnecessary steps to make selections or purchases. The interior of its restaurant was illustrated with pictures original baking process by bakers. Panera generated $2.8 billion in revenue 2016, and have just reported $727.63 million in Q1 2017 sales - up 6.2% over the same period last year. The company was formed in 1987 and is headquartered in St. Louis, Missouri, United States. })]) }}. Our new labeling commitment to post the whole grain content of breads on our menus is one example of how we are challenging America's food system to embrace transparency. All of Panera's marketing efforts ladder up to the "Food as it Should Be" groundwork, our long-term commitment to providing customers with greater transparency and clean ingredients to meet and exceed their expectations. However, it used some of its cash for share repurchases, capex, and the repayment of long-term loans. A company has the flexibility to change its product mix. More importantly, its creating the space for conversations between you and consumers and consumers with other consumers. I would argue that the bakery is not baked at all . Sr Manager, Digital Communications. The company has a strong financial position and has an annual turnover of close to $2 billion. Panera Bread delivered an impressive return of 470.5% from January 1, 2009, to July 17, 2017, when it ceased trading after JAB acquired it. All rights reserved. Creating and monitoring customer journeys is one effective strategy. In addition, the welcome email also contains a promise of more emails to help you make the most out of your MyPanera membership.. Todays differentiating innovation is tomorrows universal expectation. The real question, of course, is whether it can actually work for you. Your Privacy In 2016, Panera Bread reported system-wide SSSG of 2.4%. In some cases these cookies improve the speed with which we can process your request, allow us to remember site preferences youve selected. This delectable city in the U.S. has been named (by Mashable) a foodies paradise. Panera Bread & Panera Brands, Chief Food Safety Quality Assurance Officer, Chief Legal Officer and Secretary, Panera Bread and Panera Brands, Chief Manufacturing & Supply Chain Officer, Interim Chief Financial Officer, Panera Bread. Panera bread strategy.It is a desire that aligns with the vision statement. Inventory turns over 13 times per year. In 2016, Panera spent $709.3 million on food and paper products, which represented 29.1% of its revenue from company-operated restaurants. In 2016, its franchise-operated restaurants contributed 2.6% of their sales to national advertising funding and 0.4% to marketing administration fees. More customers mean more sales! They Put Their Unique Values Front and Center Panera famously made a resolution in 2014 to remove all artificial ingredients, including preservatives and sweeteners, from ALL of their foods by the closing months of 2016. In response, management rolled out Panera 2.0 to enhance the customer experience at its restaurants. As we can see in the graph above, it declined from a peak of 13.3% in 2012. Therefore, Panera has a huge scope for expansion. Panera Bread marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives. Good food served in warm, welcoming spaces by people who care can bring out the best in all of us. Your Privacy Choices Good food served in warm, welcoming spaces by people who care can bring out the best in all of us. Ill also offer some practical insights and questions for you to consider. The companys strategy is to reduce the company operated stores and increase franchise owned stores. Begin Ordering. It facilitates its growth by operating company-owned bakery-cafs and through franchising, which has been the company's key component of market penetration. Panera Bread Marketing Mix Proposal Download Views 827 Table of contents Competitive Analysis Target Market Strategy Place/ Distribution Promotion and Communications Advertising Sales Promotion Personal Selling Evaluation and Control Works Cited Needless to say, theres plenty of inspiration to mine, here. It also delivers ingredients to its franchised restaurants. Im a huge foodie, and I happen to live right outside of Austin, TX. MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. Your Privacy Choices Meanwhile, customer experience is the customers perspective. Its not about how great Panera is. In the chart above, we can see that the companys operating income declined from 2014 to 2016. Panera bread strategy. The launch of Panera 2.0 is one such initiative which will enhance customer experience with the company as well as improve the companys profit margin. Those employees arent going to work for free. Global Design & Development Strategy Leader | Director, Creative Design + Concepts at Panera Bread Greater Chicago Area. Thus, he adds extra emphasis on human resource too as a part of the Panera Bread Marketing and management strategy. Try observing behaviors either in person or online. Gift Card Terms & Conditions. Your company may already be a member.View our member list to find out, or create a new account. Will they pay above or below the recommended price? All rights reserved. Along with its weaker SSSG, declines in its new restaurant additions and refranchising caused lower revenue growth for it in these two years. What social media platforms do my target audience use? Following is the distribution strategy in the Panera Bread marketing mix: Panera Bread has about 2000 stores across United States and Canada. Brands that want to create and maintain engaging experiences have to constantly monitor customer behavior. We know today's consumer is smart, they make good decisions for themselves, and they are increasingly looking for clean, healthy options. Panera purchased poultry and livestock that had been fed a vegetarian-based diet. Sorry, not sorry, if I just made your mouth water a tad with all that. In some cases, these cookies involve the processing of your personal data. To identify the issues most relevant to Panera,using the GRI reporting framework,we conducted a priorities evaluation known as amateriality assessment. Lets take a look at Paneras financial performance, value drivers, competition, and unit growth ahead of its acquisition in order to better understand it. In this way, the greater contribution from favorable pricing to SSSG wasnt a healthy sign for Panera. For example, Panera can hire a group of people who can handle its social media handles and make sure that they are running and are active. When I looked at their Facebook page I noted that there were comments and responses from consumers and the brand. Am I listening to my customers? The companys management blamed the increase in its D&A expenses on its investment in company-owned restaurants and technology to support its growth initiatives. Marketing Strategy of Panera Bread analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). | replaceVariables([foundEmailAddress]) }}. Thus, by targeting only a limited inventory, the company can gather a significant hype and refrain from running in losses. Through royalties and fees, the segment earned revenue of $155.3 million, a YoY rise of 12.1%. California Supply Chain Act 5 Benefits of Establishing a Real Time Data and Insights Strategy, Whats Next for E-Commerce in 2022? In September 2014, Panera Bread selected Anomaly as its lead creative agency, replacing Cramer-Krasselt. You can update your choices at any time in your settings. For instance, students who would not have much allowance or could not afford gadgets- would take the products, and thus, this is how it would become an addictive phenomenon. JAB completed its acquisition of Panera Bread, An Investors Guide to Chipotle and Its Customers. Just take a look at the email you get when you sign up for their rewards program: You instantly get a surprise reward to redeem in-store. The company has its business operations at more than 2000 locations. Some of these restaurants are part of the SPDR S&P 500 ETF (SPY). All rights reserved. With thousands of company-owned and franchised locations across the U.S. and in Canada and over a hundred thousand associates across our system, we embrace the opportunity to spread generosity to our communities, the planet and you. Panera Breads capex included expenses from its opening of new company-owned restaurants, remodeling of existing restaurants, and purchasing of restaurants from franchisees. The refranchising led the unit count of its company-owned restaurants to fall from 925 in 2014 to 902 in 2016. Panera reported its revenue in the following three segments: Bakery-Caf Operations are Paneras caf operations. 2023 Express Writers | All rights reserved, moved toward their 2016 clean food goal. the 2019 ANA Brand Masters Conference, presented by Twitter. In the first quarter of 2017, its YoY (year-over-year) revenue growth stood at 6.2%. Changes are often the result of innovations by competitors, however, they are also the result of innovations in other technologies and industries. Are there any new platforms we should be aware of? That it takes a broader swath of a particular sector to implement the same gift economy so not just 1 or 2 are a small channel for a flood of people whose basic needs are not met. When you conduct the audit look for gaps in the experience, then find ways to fill those gaps. Expires {{ data && data.expiryDate || 'soon' }}. Tickets include two more factors: price and mix. Check with the members of their loyalty program, MyPanera they stand 28 million strong. Social Media: Today, almost everyone uses some social media source, be it for entertainment purposes or just for fun sake. McDonalds strategic decision to refranchise led to lower revenue growth. On June 3, 2014, Paneras management issued its food policy. The gross margin is 61.4% and its net margin is 7.46%. Choice is empowering your customers with the ability to choose when and how they want to connect. Search plays a huge role in that because it's a great indicator of customer intent. We're having trouble connecting to Facebook right now. The decreasing rate of sales growth may be attributed to the company's current marketing strategy. Deselecting these cookies may result in seeing advertising that is not as relevant to you. Company focuses on adding elements in their service that would appeal different senses of the customers. Below is the pricing strategy in Panera Bread marketing strategy: Panera Bread prices its offering competitive because of high competition that not only exists from fast casual food but also from fast food and full-service restaurant. Copyright 2023 Market Realist. Panera Bread offers social media options that are appropriate for their audience. Meanwhile, McDonalds reported SSSG of 10.5% in the US market during the period, while Shake Shack posted SSSG of 4.2%. Although, as a fact; It has been studied and observed that there was an increase in the customer traffic and sales were high during this experiment but, keeping a practical approach is paramount for any business to run and survive. Mix means the growth in the number of items ordered per transaction. For breakfast, any of their sandwiches, along with a hot cup to drink, suits us fine. Therefore, Panera could use one scheme to sell digital products- the company could host monthly or weekly contests, where customers participate and get the option to pay their price. Takeaway: Always make your content marketing about the customer/your audience. Create a customer-centric plan and culture5. Panera is liquid, with a current ratio of 1.59 and a debt to equity ratio of 0.52. Correlation strength can be determined by how close this number is to one. A company doesnt have much flexibility when it comes to these costs. Panera 2.0 required a significant investment in upgrades and changes to their previous business model. How am I giving them a voice? Terms Of Use Capital can be generated internally or sourced externally. Niren Chaudhary. If prices increase too much, it could cause customers to go to a competitor instead. The strategy of; identifying the opportunities and threats, analyzing the target market, determining position in the market, deciding on a growth strategy and figuring out the marketing mix has played an important role in the growth of Panera Bread. Gift Card Terms & Conditions. But they also need transparency, and it's up to restaurants and food manufacturers to provide it to them. The company is in rapid mode of expanding its stores count. {{ 'We have sent an email with sign in instructions to {0}.' View Lisa Albert's email address: lxxxxxxxxxt@panerapeople.com & phone: +1-xxx-xxx-9925's profile as Senior Executive Assistant to Chief Brand & Concrpt Officer at Panera Bread, located in Greater Boston. Same-store sales indicate a restaurants ability to generate revenue. Just enter your password to connect your MyPanera account with Facebook. In this same period, an investment in the S&P 500 Index would have returned $2,205.3. The restaurant chain also offers free Wi-Fi to its customers. One Panera for aHealthier and Happier World. The logo of Panera illustrates a woman with flowing hair caressing a loaf of bread which came to be known as Mother Bread and created the differential for the chain. {{ 'We have sent an email with sign in instructions to {0}.' It helps the company both from inside and outside of restaurant and smoothen the order traffic in restaurant. Sometimes, tips are not required. To get more information about these cookies and the processing of your personal data, check our Privacy and Cookie Policy. Chipotle Mexican Grills SSSG fell 20.4% in the period due to its food-safety issues. It prioritizes efficient and effective marketing and ensures you're delivering only the most relevant, targeted messaging across the board. Find contacts: direct phone number, email address, work experience. We are looking for a Senior Manager of Digital . They were also at their lowest level since 2013. It was interesting reading the article about panera bread marketing strategy. In 2016, its other operating expenses stood at $359.6 million, 14.8% of company-operated sales compared to 14.2% in 2015. We are always focused on improving our guest experience both in cafes and digitally to meet the consumer where they are. These include cookies that allow you to be remembered as you explore the site within a single session or, if you request, from session to session. Ill use the Panera Bread case study as an example of a brand that identified significant challenges that threatened their growth, maybe their existence, and took steps to disrupt themselves. Research on what Motivates the customer to Spend: Overall, pay-what-you-want is an effective tactic for capturing the audiences attention and turning customers into influencers. Panera Bread Marketing Strategy & Marketing Mix (4Ps) The main option for dealing with the threat of substitutes is by offering more than just products, and Panera Bread does this by providing a specialty experience. I currently: - Ensure operation is excellent through proper preparation of essential items. Panera Bread. 5. Please enter a valid Email Address. Fresh Dough and Other Product Operations. They also offer dietary choice such as Organic, Gluten free, Vegetarian, Dairy Free, Low Sodium and Low-Fat food. Here is what Panera Bread does to take their brand over the top: Panera famously made a resolution in 2014 to remove all artificial ingredients, including preservatives and sweeteners, from ALL of their foods by the closing months of 2016. Our MyPanera loyalty program is the largest in the industry, and we utilize data from our 30 million plus members to roll out more personalized, one-to-one marketing. How am I facilitating experiences between my customers. We look at important search terms and make sure we show up. Most have healthy additions (like the tomatoes you toss into the Tomato, Bacon Mac & Cheese) and the vast majority are easy enough to throw together in 15 minutes. 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Olive Garden operates under the Darden (DRI) umbrella, and Chilis operates under Brinker International (EAT). I am sure you will be able to think of other questions for each of the five ingredients. One Panera for a Healthier and Happier World. Compared to 2015, its food costs fell from 30.3% of its company-operated restaurant revenue. Job Purpose. It echoes the friendly, down-to-earth, yet health-conscious vibe youll see everywhere else in their marketing (note that its titled A Conversation with Ron its literally shot across a dining table as if youre sitting down with him for a bite to eat and a chat): Takeaway: Your brand voice MUST be consistent on every channel, on every platform, and in every piece of content. It also offers catering services. These business strategies, based on Panera Bread marketing mix, help the brand succeed in the market. Brands that want to create and maintain engaging experiences have to constantly monitor customer behavior. No worries, just sign in to your MyPanera account and well get it straightened out. The vibe, style, and message that comes across is always on-point and makes sense for Paneras 100% clean philosophy. It also shows that education across the board (from the CEO's to the shareholders, to the management and the customers) is sorely needed. Consumers will start having conversations about the company, thus extending its reach. Its weak SSSG and the higher rate of increase in its expenses dented its operating margins in the previous four years. Originally published on December 22, 2014, by Adam Jones, this overview of Panera was substantively updated on December 23, 2019, by Rajiv Nanjapla. Positive SSSG and the addition of new restaurants led the segments revenue to rise. Also like the Turkey Bacon Avocado sandwich and chicken noodle, vegetable, and French onion soups. Roswell, Georgia, United States. Contact Support, We have sent password reset instructions to the email address we have on file for you. The restaurant chain offers customized local product of states in which they operate keeping a base of product constant across the chain. Compensation for some links to products and services on this website Organic Gluten. Village, CA with its weaker SSSG, declines in its new restaurant additions and refranchising caused lower growth!, of course, is whether it can actually work for you consider.: price and mix also include Paradise Bakery & Caf and Au Bon.. For fun sake suits us fine business operations at more than 2000 locations out more here )... Companys strategy is to one within or outside of stores is aimed at customer... Be able to think of other questions for each of the five ingredients Meanwhile mcdonalds! Advertising funding and 0.4 % to marketing administration fees in cafes and digitally to meet the consumer where they also! In to submit a comment on adding elements in their service that would appeal different senses of the SPDR &! Strategy Leader | Director, Creative Design + Concepts at Panera Bread has about 2000 stores across United States }. Products are used to pack the food away as parcel from their shops service,. A current ratio of 1.59 and a debt to equity ratio of 0.52 fellow team members traveled around country. Brand/Company to position itself competitively in the market and achieve its business at. Currently: - Ensure operation is excellent through proper preparation of essential.! Of company-operated sales compared to 2015, its creating the space for conversations between you and and. For events, press releases, blog posts, and I happen to live right outside stores. I noted that there were comments and responses from consumers and consumers with other consumers company-operated restaurants order traffic restaurant... Who care can bring out the best in all of us mix Panera... Uses some social media platforms do my target audience use attributed to the company is in mode. Their Facebook page I noted that there were comments and responses from and... | replaceVariables ( [ foundEmailAddress ] ) } }. to marketing administration fees for you check with the to. Platforms we should be aware of of customer intent proper preparation of essential items find out more here margins... Fall from 925 in 2014 to 2016 it & # x27 ; s a great indicator customer... This number is to reduce the company was formed in 1987 and is headquartered in St. Louis Missouri! Not baked at all also include Paradise Bakery & Caf and Au Bon Pain to meet the consumer they... Restaurants on the map, it could cause customers to go to a competitor instead, company... And responses from consumers and the brand where they are also the result of innovations by,... Happen to live right outside of stores is aimed at enhancing customer experience at its restaurants stood at 359.6! 61.4 % and its customers your personal data team members traveled around the.! Makes sense for Paneras 100 % clean philosophy new account and smoothen the order traffic in restaurant guest! In 1987 and is headquartered in St. Louis, Missouri, United States. } ) ] ) }. Not sorry, if I just made your mouth water a tad with all that that been... The graph above, we have sent an email with sign in instructions to company! In other technologies and industries sure we show up like the Turkey Bacon Avocado sandwich and chicken noodle vegetable! Appropriately responding to input from audience members, help the brand only a limited inventory, the &! Sorry, not sorry, if I just made your mouth water a tad with all that how close number... How close this number is to reduce the company has a huge role in that because &. And is headquartered in St. Louis, Missouri, United States and Canada a peak of 13.3 % the! Vegetarian, Dairy free, Vegetarian, Dairy free, Vegetarian, free. 1.59 and a debt to equity ratio of 0.52 0.4 % to marketing administration fees so, you may out! For expansion may receive compensation for some links to products and services on this website to them in service! How close this number is to one to refranchise led to lower revenue growth for it these... In 2017, its franchise-operated restaurants contributed 2.6 % of its revenue from company-operated restaurants, Whats Next for in... Enter your password to connect can update your Choices at any time in your settings its SSSG... From favorable pricing to SSSG wasnt a healthy sign for Panera I just your! Only a limited inventory panera bread marketing strategy the segment earned revenue of $ 155.3 million, a rise. The space for conversations between you and consumers and consumers and consumers with other consumers Privacy and Cookie policy at. Unit count of its company-operated restaurant revenue I just made your mouth water a tad all... Mix of Panera Bread was acquired by JAB Holding for $ 119.99, you may out... Attributed to the email address we have on file for you to consider YoY rise of 12.1 % course is. Industry characterized by aggressive competition, Panera Bread marketing strategy to $ 2 billion was! & P 500 Index would have returned $ 2,205.3 be logged in to submit a comment improve the speed which... ( [ foundEmailAddress ] ) } }. comes across is always on-point and sense. Data.Expirydate || 'soon ' } }. the 2019 ANA brand Masters Conference presented. Stood at $ 359.6 million, 14.8 % of its cash for share repurchases capex... Then find ways to fill those gaps of items ordered per transaction to you across is always and. Of Establishing a real time data and insights strategy, Whats Next for E-Commerce in?... Sure you will be able to think of other questions for each of the end products value. Waiting cues to a competitor instead stores is aimed at enhancing customer is. Include Paradise Bakery & Caf and Au Bon Pain Act 5 Benefits of Establishing a real time and. The Darden ( DRI ) umbrella, and purchasing of restaurants from franchisees welcoming by. You may find out more here a company panera bread marketing strategy have much flexibility when it comes to costs. Growth stood at 6.2 % from 2014 to 902 in 2016, its food policy, TX team traveled. Poultry and livestock that had been fed a vegetarian-based diet more here company on. Are delivered at cost, which seems to be working for it these... Chain offers customized local product of States in which they operate keeping a base of product constant across chain. 4.2 % steps to make selections or purchases product or service from any device fed. 5 Benefits of Establishing a real time data and insights strategy, Whats Next for E-Commerce in 2022 uses. Doesnt have much flexibility when it comes to these costs consumers and consumers with other consumers when you the... Panera has a strong financial position and has an annual turnover of to. Account and well get it straightened out, allow us to remember site preferences selected! Brand image and content strategy Avocado sandwich and chicken noodle, vegetable, and 's... On June 3, 2014, Paneras management issued its food policy empowering your customers with the members of loyalty. In to submit a comment refranchising caused lower revenue growth $ 155.3 million 14.8... To their previous business model operation is excellent through proper preparation of essential items questions... On Panera Bread reported system-wide SSSG of 10.5 % in the us market during period! Youve selected it can actually work for you the market restaurant units,... To make selections or purchases, is whether it can actually work for you 'We sent... Contribution from favorable pricing to SSSG wasnt a healthy sign for Panera experience... The interior of its company-operated restaurant revenue to rise and mix cause customers to go to a competitor.. Segments revenue to rise refranchising led the unit count of its company-operated revenue! Relevant to Panera, using the GRI reporting framework, we have an. Bread strategy.It is a Knowledge Resource for management Students, Aspirants & Professionals period due to its issues... Your Choices at any time in your settings some of its restaurant was illustrated with pictures original baking by... Marketing mix of Panera Bread strategy.It is a cornerstone of staying relevant Description: 204239 - Westlake Village,.. From company-operated restaurants I happen to live right outside of Austin, TX for it also at Facebook! For fun sake message that comes across is always on-point and makes sense for Paneras 100 clean... To national advertising funding and 0.4 % to marketing administration fees revenue growth this.... Helps the company operated stores panera bread marketing strategy increase franchise owned stores to connect update your Choices at time. The order traffic in restaurant competitor instead by targeting only a limited inventory, the company was panera bread marketing strategy... More importantly, its YoY ( year-over-year ) revenue growth to restaurants and food to. Which seems to be working for it consumers will start having panera bread marketing strategy about the company its... Foodie, and it 's up to restaurants and food manufacturers to provide it to them at all most! Compensation for some links to products and services on this website of sales. Choices Meanwhile, customer experience by reducing the waiting cues rapid mode of expanding its stores.! With pictures original baking process by bakers help the brand x27 ; s to! Illustrated with pictures original baking process by bakers Breads capex included expenses from opening!, Low Sodium and Low-Fat food traveled around the country across is always on-point and makes for... Strength can be determined by how close this number is to one mix of Panera marketing! 12.1 %, just sign in to submit a comment be dinned out or away!

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