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The aim of strategic planning is to shape the companies businesses and products so the yield target profit and growth.SSEndK!OB ARmT A@ASSEndO=&AKIlRmT43A@BD HH 3 Key areasHcSEnd&$YAOIRmT43A@CHcSEndYeiA&I RmT A@AJB-J6Managing companies business as an investment portfolioSSEndisAYI2KmT A@AJB-JQAssessing each businesses strength by considering the market growth rate and the SSEndsRxAiI<RmT A@AIJ(Companies position and fit in the marketSSEndxAsIAKmT A@AJB-J"Strategy - For each business a com,pany must develop a game plan for long term SSEnd5AxIMRmT A@AIJ Objectives.SSEnd AISRmT A@ASSEnd^AIVRmT A@B:Corporate headquarters undertake four planning activities:SSEnd AIWRmT A@ASSEndGAIWRmT A@AJB-JDefine Corporate MissionSSEndiAIWRmT A@AJB-J#Establish Strategic Business Units @@@@A` (SBUs)SSEnd[AIWRmT A@AJB-JAssign resources to each @@@@A` DSBUSSEndbAIWRmT A@AJB-J3Planning new business, down sizing older businessesSSEnd AIWRmT A@ASSEndCIWRmT A@DXI) Define corporate missionSSEnd IYRmT A@ASSEndAYKmT*\A@B6Ask fundamental questions, what is our business? what @@@@A` GisntA our business? who is the customer? What should our business be? SSEnd!AYRmT A@ASSEndAYRmT*\A@BtGood missions statements focus on limited number of goals, stress the major values and define the competitive scope.SSEnd!AYRmT A@ASSEnd!AYRmT A@ASSEndSAYRmT A@DXIi) Establishing R@@@@A` FSBUsSSEnd!AYRmT A@ASSEndAYKmT A@B6Market definitions are superior to product definition @@@@A` (Levitt Marketing Myopia). SSEnd! AYRmT A@ASSEnd NAYRmT A@D@@@@A` ESBU has 3 characteristicsSSEnd! AYRmT A@ASSEnd(AYRmT*\A@AJB-JSSingle business or collection of related businesses that can be planned separately IIJfrom the rest of the companySSEnd(N0AYRmT A@AJB-JHas its own set of competitorsSSEnd08(AYRmT A@AJB-JNIt has a manager responsible for strategic planning and profit performance andSSEnd8\0AYKmT A@AIJ+Who controls most factors affecting profit.B SSEnd!8AYRmT A@ASSEnd&YJU mT A@ASSEnd^CAYRmT A@DXIii) Assigning Resources to R@@@@A` FSBUsSSEndC!HAYRmT A@ASSEndHPCAYKmT A@AJB-J1Portfolio models can be very useful in analyzing @@@@A` GSBUs or even products to make SSEnd   BQ PP  ZHZOZI 'Ayd@d@FStoryAYAAm 'Ayd@d@FStoryAYAAm *yd@Q $@StoryYAAm 'yd@d@Story_m ) ,Bqd@d@FStory ,BWm ,, /Bqd@Q + $@FStory /BQ -A -Am /* BA ,yd@Q . $@FStory BA ,Y 0A 0Am  taB PP  U AxpA@PYmZLZP :ZNZV uAuxpA@PW AxpA@PX AxpA@P\[u^_`abZJZKZQb(Ru(SM(e(fc(g(h(i(j]# .Y +u@pA@B PRA =A +P@EFooterI /A#A %Iyy@ @Y XQ@c +Xq .yu@pA@B PRPA .A#P@EHeaderI ,AA Iyy@ @Y XQ@c 8'A Hyd@d@FStoryA HY 9A 9AmAyU@@Default Drop CapQ A@IQXAAP @FDropCapIAxH@@Default Drop Cap Style$@@ Default TextI&AAAyA@!AfAdAe@ X@Dzb%@@ @s 'q 8yd@Q @@Story 8_mk0mAo@ Note Initials`P@Y@x`al2 qyX@@ Default CellQAA@@@R@0@AAP@CCellH@@Default Table Cell Style$@ @ Table TextI 3AAAA@ 7AyP_XHAYRmT A@AIJ4Decisions with regard to future investment decisionsSSEnd D BT PP  aSm@D@@ap@PT@@apE.@@ap@PT@@apE.@@ap@PT@@apE.@@ap@PT@@apE.@@ap@PT@@apE.@@ap@PT@@apE)@@ap@PT@@apE)@@ap@PT@@apE)@@apE(@@ap@P T@@apB)SSEndTSm@D@@@Px@PT@@@PxE.@@@Px@PT@@@PxE.@@@Px@PT@@@PxE.@@@Px@PT@@@PxE.@@@Px@PT@@@P?xE.@@@P?x@PT@@@PxE.@@@Px@PT@@@PxE.@@@Px@PT@@@QpE.@@@Qp@P QSSEndPAm@ASSEnd SmCHHBSSEnd SmCHHBvSSEnd -PAm ,@ASSEnd 0PAm /@ASSEndA!A;RmT A@ASSEnd a `B\ PP   :1@Engineering NumberingI 8@ OX+@Outline (Not Indented)P@@@i@"@ Left Justified Outline Numbering@@@pE A@A+@D  O @@@QP mrW@@ Default TableQH@@RB0PAAP @ SuperTableH@@Default Table Style Ay@. 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" @@@QP ,q@Default OutlineI@ OPZa ; ' : GoA @ Body Singlep@i@P@@@pE A@Am@D= ]lXAYRmT A@AJB-JOBoth the Boston Consulting Group Matrix and the General Electric (GE) PortfolioSSEnd}!A;RmT A@ASSEnd `ABX PP  0e:*A7RmT A@B?Target marketing requires marketers to take 3 distinctive stepsSSEnd]*7JW mTifDA@BI OYou can have any @@@@A` colour as long as @@@@A` Fits black - HeDnr(y Ford on his model TA O - this is often quoted as an example of A Oanti segmentationA O however in the early stages of mass production Henry for has discovered a huge market segment - the market for low cost automobiles which he satisfied through his low cost production processes. Initially the model was highly successful until General Motors introduced different mass produced models to suit various tastes (or segments) in the market.SSEndJA;RmTifDA@BOn the other extreme comDpanies can be guilty of @@@@A` overpositioingF themselves or their offerings. Consumers may hold a belief about a ceCr*tain brand that is not true. For example @@@@A` Tiffanys store in New York carries a range of products that begin at $1000 but many consumers hod the belief that products are priced far higher and as a result stay away from the store. @@@@A` Tiffanysa has simply developed a reputation as a store for rich people although this is not entirely true.SSEnd=A;RmT A@B Over positiCoEningSSEnd#u;J mT A@ASSEndojA;RmT? )A@BMarket launch strategies include rapid skimming, slow skimming, rapid penetration and slow penetration. Each strategy has advantages and disadvantages and marketers should select the appropriate strategy depend upon the market requirements.SSEndXw+@DTitleP@ @@ i@P@@@pEAm@DdB}q*A # @@@  f\Uw @ Number Listp@i@P@@@pE A@Am@D  ! @@@QP  {U'  ;# ZB @GBullet 1p@i@P@@@pE A@Am@D  " @@@RH lDt]AYRmT A@AIJMatrix are useful in thisSSEnd}A;KmT*\A@BL Positioning is the act of designing a set of MEANINGFUL differences to distinguish the company's offering from competitors offeringA M @@@@A` KotlerB SSEnd/}yI;RmT A@B PositioningSSEnd:!@0A7RmT A@ASSEnd!Az7RmT A@ASSEnd!A;RmT A@ASSEnd!A;RmT A@ASSEndj!oA;RmT A@ASSEndwOf @ Table Textp@i@P@@@pE A@Am@Db|r}# U[Df @ Heading 3P@ @@i@P@@@pEAm@D B}t> # @@@   ACD  c' ZB( @GBullet 2p@i@P@@@pE A@Am@D  " @@@RH c Pt!ylAYRmT A@ASSEnd!A;RmT A@ASSEnd&TE;JY mT A@ASSEnd@N:A7RmT*\A@AJY- identify and profile groups of buyers who might require separate products or marketing IJmixes (market segmentation)SSEndA6RmT A@D@@@@A` FDont. buy market share, figure out how to earn it. @@@@A` Kotler page 255SSEnd8A;KmT A@BConfused position SSEnd;J[ mTifDA@Companies find that consumers have only a vague idea of what a brand or product stands for and its distinct value proposition in a sometimes overcrowded market. The communication message does not convey effectively the true value of an offering. In cases such as this companies are potentially foregoing substantial revenues which could be corrected through more effective positioning. In essenCc*e companies are short selling themselves.SSEnd@j;J] mT? )A@BMany studies have concluded that the A Ofirst moverA O into a market has a distinctive advantage. Companies such as Coca Cola, Kodak, and @@@@A` Amazon.comg were all first movers in their respective markets and have maintained market leadership to this day. SSEndD[2U @ Heading 2P@ @@i@P@@@pEAm@D B}t> # @@@   qC2c  b (S2 @First Line Indentp@i@P@@@pE A@Am@D-# c PybtAYRmT A@DX9Iv) Planning new businesses, down sizing older businessesSSEndA;RmTT6A@BǿCompanies continue to strive to differentiate their offerings from those of the competition in order to gain or maintain competitive advantage. In many cases these advantages may be only short lived @@@@A` Ee.g' product features or more long lasting @@@@A` Ee.g brand image. Brand differentiaGtion can therefore lead to long term sustainable competitive advantage.SSEnd!A;RmT A@ASSEndN!R@A7RmT A@ASSEnd!$A5RmT A@ASSEnd3!$,AYRmT A@ASSEnd! A;RmT A@ASSEnd!A;RmT A@ASSEnd!A;RmT A@ASSEnd2[(D @ Heading 1P@@@i@P@@@pEAm@D B}t> # @@@   c !yAYRmT A@ASSEnd!A;RmT A@ASSEnd|I9RmTT6A@BProfKiling for market segmentation can be done by means of surveys and data analysis. Once this has been done companies must decide which segment(s) that they wish to target. Their are five approaches to this single segment concentration, selective specialization, product specialization, market specialization and full market coverage.SSEndRiYNA7RmT A@AJ@- select one or more market segments to enter (market targeting)SSEnd$V3AKmT]A@D@H*9,10) Market Segmentation and Positioning SSEnd,!3AYRmT A@ASSEnd fA;KmT? )A@BCFGrequeLnt repositioning can lead to confusion amongst consumers. A OWe are the chCeapest, best quality most exclusiveA O is an example of a company trying to be all things to all people. Strategies such as this rarely work. PositioCn=ing has to be consistent and should not be changed to often. SSEnd6FA;RmT A@BUnder positioningSSEnd7A;RmT A@BIntroductory stageSSEnd  AYRmT*\A@BvStrategic planning gaps, Intensive growth, Integrative growth, diversification growth and down sizing older businessesSSEndA;RmT*\A@BProduct differentials: Products can be differentiated on the basis of form, features, quality, durability, reliability, reparability and style to name a few.SSEnd!A9RmT A@ASSEndY!aRA7RmT A@ASSEnd,AYRmTifDA@BѿCompanies must not only develop businesses but also carefully prune, harvest or divest old businesses that may put to great a burden on the overall company or may no longer be strategic or core to the overall @@@@A` startegy...e.g; Burger King is now longer seen as a strategic part of the @@@@A` GDiagov business as they want to concentrate on branded international drinks. Burger King is currently A Oup for saleA J.SSEnd!7 A;RmT A@ASSEndF!AA;RmT A@ASSEnd!A;RmT A@ASSEnd !AYRmT A@ASSEnd!A;RmT A@ASSEndlBA9RmTT6A@D@@@@A` Psychographic:% consumers grouped on the basis of lifestyle, or personality and values. As some social class stratification's e.g.. A, B1, B2, C become less and less relevant for marketers, lifestyle has become a more relevant alternative. Consumer goods can be expressions of the lifestyle that people lead.SSEndaxiYA7RmT A@AJO- Establish and communicate the products key distinctive benefits in the marketSSEnd!AYRmT A@ASSEnd7C=A;KmT A@BDoubtful positioCnEing SSEndA!F/A;RmT A@ASSEnd$z;mT6Some companies such as Coca ColCa would argue that their core product has an infinite life potential as the product form, a reforesting soft drink, is unlikely to be made obsolete through a new invention. If one can accept a product life cycle in other markets then it is likely to follow the pattern of introduction, growth, maturity and finally decline.SEnd%AYRmTifDA@BIMarket conditions change and companies need to constantly organize their @@@@A` SBUs in order to meet their goals. In some cases this could mean investing heavily in new growth businesses, cost cutting in stable and mature businesses or divesting business that no longer perform or meet the goals laid down by management. Both the Boston Consulting Group matrix or GE Portfolio Model are useful tools to help management make better decisions the about their individual @@@@A` GSBUs.SSEndyA;RmT A@BSServices differentiation: Delivery, installation, training, maintenance and repair.SSEnd!A9RmT A@ASSEndi<uaA7RmT A@AJ(market positioning)SSEndAAYRmT A@BDown sizing older businessesSSEnd=!G7A;RmT A@ASSEnd/ZA*A;KmT A@B4Companies face four distinct dangers in positioning SSEndz!sA;RmT A@ASSEnd!AYRmT A@ASSEnd!A;RmT A@ASSEnd A9RmT? )A@BDemographic: Markets can be divided into segments based on variable such as age, gender, income, social class. Each group will usually have some distinctive elements that can be targeted specifically with a given marketing mix.SSEndu!}iA7RmT A@ASSEnd!{AYRmT A@ASSEndG0e=A;RmTifDA@BThis is where companies position a product of service at a level that is not believable by the audience. An example was some years ago when @@@@A` LevisN the jeans manufacturer entered the market for business suits under the label @@@@A` Levis/@ A Odesigner classicsA O. In pilot testing @@@@A` LevisY discovered that consumers did not find the brand Levies consistent with designer suits. @@@@A` Levis= ultimately withdrew from the market with substantial losses.SSEnd*!/A;RmT A@ASSEndsdzmA;RmT A@AIJ9And other human resource strategies as the various stagesSSEnd!:AYRmT A@ASSEndxA;RmT A@BROthers differentiates include personnel differentiation's, image differentiation.SSEnd!A9RmT A@ASSEnd$}{u7mifDMarket segmentation is a recognition that consumers are not homogeneous and that by segmenting consumers through different variables such as income, age, culture, geography, social class etc... Companies are able to design and market offerings that are more relevant to each individual segment. This increases consumer utility and also improves the chances of companies meeting their goals of revenue, profit and market share.SEnd{vAYKmT? )A@BcBusiness sales can be increased through backward, forward or horizontal integration. Companies can @@@@A` aquireq suppliers, move down the supply chain and takeover an end retailer or even make an acquisition of a competitor. SSEnde!tGA;RmT A@ASSEnd*A;RmTpmA@B For example @@@@A` FVodaEf@@@@A` Eone began life as a dynamic provide of mobile telephone services and quickly gained a reputation for the widest network coverage in the @@@@A` EU.K5 market and was seen as more dynamic than its rivals @@@@A` DBT or Mercury7. As the largest provider of mobile telephone services @@@@A` VodafoneC has now become an iCnternational brand. Now the company is a major sponsor of sporting events, and invests heavily in advertising and the brand image. ! The company now needs to ensure @@@@A` Fits] continued position as number one in its market whilst seeking further growth opportunities. @@@@A` VodafoneV also now has to protect and develop its brand equity. These is typical positioning st;rategy of the market leader. As market leader Coca Cola pre2sses a similar strategy in its respective markets.SSEndmsgA;RmT A@AJB-JOthat products require different marketing, as well as manufacturing, purchasingSSEnd:jAYRmT? )A@BCS$trategic planning also involves analCy+zing if a companies current collection of @@@@A` GSBUs are adeqCuzate to matching the current planned organizational goals. If this is not the case a there are a number of growth strategie>s that are available to management in order to accomplish thisSSEnd!A;RmT A@ASSEnd A9KmT? )A@BGeographic: Diving markets into different geographic units such as nations, states, towns or even neighborhoods. Factors such as the weather could be a reason that consumers demand a different combination of the marketing mix. SSEndv!{jAYRmT A@ASSEndtLeA;RmT A@BPositing and the product life cycleSSEndA;KmT*\A@BPositiocning and differentiating strategies may also change at different stages of the product life cycle. SSEndg~maA;RmT A@AJB-J5that profits rise an fall at different stages of the @@@@A` lifecycleSSEnd!B:AYRmT A@ASSEndA;RmTT6A@B$I OPositioning starts with a produCc5t. A piece of merchandise, a service, a company, an institution, or even a @@@@A` person...but positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is you position the product in the mind of the prospectA M @@@@A` FRies and Trout @@@@A` Kotler page 298.SSEnd!A9RmT A@ASSEndj7vAYRmT A@BIntegrative growthSSEnd!tA;RmT A@ASSEnd!A;RmT A@ASSEndag[A;RmT*\A@AJB-JV that products sales pass through different stages which present different challenges IIJand opportunitiesSSEndAYRmT A@BIntensive Growth: @@@@A` Ansoffs growth matr8ix offers a number of possibilities for intensive growthSSEnd!A;RmT A@ASSEndKA9RmT A@B&Basis for segmentation (some examples)SSEnd jIYRmT A@ASSEnd]WA;KmT A@B The product @@@@A` lifecycle asserts that SSEndA;RmT*\A@BCompanies must ask themselves questions on which differences and how many differences they should promote. They also need to decide on how these differences are to be promoted.SSEnd[LaWA;RmT A@AJB-Jproducts have a limited lifeSSEnd!A9RmT A@ASSEnd{!}Az9RmT A@ASSEndW![A;RmT A@ASSEnds{A9RmTT6A@BIdeally consumers want a product that fits their needs exactly. However in markets with large numbers of buyers, it is often impossible to meet each of these need economically. CompCa)nies often settle for a compromise by ideCn[tifying distinctive groups that may respond to different combinations of the marketing mix.SSEndZ4T!_BA;RmT A@ASSEnd_ jATI;RmT A@ASSEndj nA_I;RmT A@ASSEndn yAjI;RmT A@ASSEndy nI;RmT A@ASSEnd.TA$RmTq= A@CHdPAlnAlCSEnd AKmT? )A@BMarketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and @ @ @ organisational goals"SSEnd%nARmTq= A@CHcSEnd6 A#KmTq= A@CH[HdPAlnAlCSEnd  !AYmT A@ASSEnd!Fi AYmT A@BAmerican Marketing AssociationHcSEnd1,EHZmTq= A@CHdPAlnAlCSEndE51@ZmT A@BRecommended TextsSSEndM?T@ZmTq= A@CHHISBN 0-13-012217-3HcSEndTQBMAKmTq= A@CHB@ @ @ www.prenhall.com/kotlerHcSEndi%n!ARmTq= A@CHcSEndn7iARmT A@DX Key TopicsHcSEnd E@ZmT A@ASSEndbM@SmT A@BMarketing Management @ @ @ Milenium edition HcSEnd-ImRmTq= A@CHdPAlnAlCSEndxAKmTq= A@CHHChapter 3 Market oriented HB@ @ @ startegicHH planningHcSEnd%ARmTq= A@CHcSEndAKmTq= A@CHH Chapter 1 HB@ @ @ MaketingHH in the twenty first HB@ @ @ centuaryHcSEndHA RmTq= A@CH[HH- What is marketingHcSEnd%A RmTq= A@CHcSEndA RmTq= A@CH[HH_- Company orientations. Selling concept, production concept, product concept, marketing conceptHcSEndA KmTq= A@CH[HH:- marketing myopia (see also Marketing myopia by Theodore HB@ @ @ Levitt)HcSEnd-PAKmTq= A@CH[HcSEnd% ARmTq= A@CHcSEnd %ARmTq= A@CHcSEnd%" ARmTq= A@CHcSEnd"%1ARmTq= A@CHcSEnd1%6"ARmTq= A@CHcSEnd6%91ARmTq= A@CHcSEnd9%>6ARmTq= A@CHcSEnd>%K9ARmTq= A@CHcSEndK%Z>ARmTq= A@CHcSEndZ%iKARmTq= A@CHcSEndi%nZARmTq= A@CHcSEndn%}iARmTq= A@CHcSEnd}%nARmTq= A@CHcSEnd%}ARmTq= A@CHcSEnd%ARmTq= A@CHcSEnd%ARmTq= A@CHcSEnd%ARmTq= A@CHcSEnd%ARmTq= A@CHcSEnd%ARmTq= A@CHcSEnd%ARmTq= A@CHcSEnd%ARmTq= A@CHcSEnd%ARmTq= A@CHcSEnd*JR mTq= A@CHcSEnd%ARmTq= A@CHcSEnd%ARmTq= A@CHcSEndrHBA@  E(ARmTq= A@CH[HH-see guide belowHcSEnd(%/ARmTq= A@CHcSEnd/_>(ARmTq= A@CHH1Chapters 9,10 Market Segmentation and positioningHcSEnd>GP/ARmTq= A@CH[HH- see guide below.HcSEndP`>ARmTq= A@CH[HH+- important: basis for market segmentation.HcSEndQrHBA@ R QTrHBA@ U TVrHBA@W VXrHBA@Y XZrHBA@`[ Z\rHBA@a] \H$@P@P P P DiiEa H@H@@P@@P@@PPpPP`@p@P P wO==^DQGAOALQPQHATANAYAZAVAUAWAXA\A[A^A_A`AaAbAIAJAKAQARASAM dAeAfAcAgAhAiAjP@P cpcP cpcPaH dP@PcpcP`P cpcH pcP`cpcPa cpcH pcPaUUH cpcP@QHdP@QTT cpcP@QTT cpcP@QH dP@QUUH cpcP@QHdP@P@ @ Helvetica H@Times New RomanHWH@ MS Sans Serif H @ WingdingsH @ Arial Black H@Arial h@@ xHHGH@PHi]AAQrys@@George P. 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NAME=Group1;;4w[[YwY?6$dvC 6 v11C vC vC @"$#-V   <+fe=32+fc=194+f2=194+f2=194+sd=1+sc=31>Sales0000864{name=,r=1}{name=Level2,r=2}{name=Level3,r=3}{name=Level4,r=4}{name=Level5,r=5}o 4$  @"$#/V'?'?'u<+fe=32+fc=207+f2=207+f2=207+fx=0+sd=1+sc=31>100000864{name=,r=6}{name=Level2,r=2}{name=Level3,r=3}{name=Level4,r=4}{name=Level5,r=5}o 4$\\@"$#.V'?'?'u<+fe=32+fc=207+f2=207+f2=207+fx=0+sd=1+sc=31>50000864{name=,r=6}{name=Level2,r=2}{name=Level3,r=3}{name=Level4,r=4}{name=Level5,r=5}o 4$\\@"$#.VyAA?y?yu<+fe=32+fc=207+f2=207+f2=207+fx=0+sd=1+sc=31>00000864{name=,r=6}{name=Level2,r=2}{name=Level3,r=3}{name=Level4,r=4}{name=Level5,r=5}o 4$ ||l l@J"$#bV   <+fe=32+fc=194+f2=194+f2=194+fx=0+sd=1+sc=31>Time (years<+fs=294+fe=32+fc=194+f2=194+f2=194+fx=0>)0000864{name=,r=6}{name=Level2,r=2}{name=Level3,r=3}{name=Level4,r=4}{name=Level5,r=5}o  4$\%%\@#7XD%D%2<+fc=182+f2=182+bz=54+f2=182>The Strategic-Planning Gap0000886{name=,r=7}{name=Level2,r=8}{name=Level3,r=9}{name=Level4,r=10}{name=Level5,r=11}o  Page title;?di - *i g g f b `/ ]E X\ Ts O K E > 8 / ) , B X o        % ; 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Evaluate<=attractiveness<=of each<=segment<=<=4. Select the<=target<=segment(s)0000875{name=,r=6}{name=Level2,r=7}{name=Level3,r=8}{name=Level4,r=9}{name=Level5,r=10}o ?&d! Xrj1:/ X?&dJ =J A?&de %Bg%4$<<@"$# ?XII<+fe=32+fc=214+f2=214+bz=85+f2=214+sd=1+sc=31>Market<=Targeting0000886{name=,r=11}{name=Level2,r=7}{name=Level3,r=8}{name=Level4,r=9}{name=Level5,r=10}o  ;-?@"# XO&O&  n <+fc=282+f2=282+f2=282>5. Identify<=possible<=positioning<=concepts for<=each target<=segment<=<=6. 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