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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2014-09-11 00:00:00",
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      "kind": "callout",
      "text": "We believe Darden must revamp its advertising strategy and increase traffic through efficient and focused advertising spend",
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      "text": "Darden's current advertising strategy: Spend (up), Traffic (down), ROI (down). Our plan: Spend (down), Traffic (up), ROI (up).",
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      "text": "We believe Darden's advertising message is misguided and lacks focus. Darden spends too much on ineffective advertising.",
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      "text": "Darden is the largest advertiser in casual dining, spending ~$252 million in 2014 alone... but its SSS growth trails peers. Darden advertises on TV 50 weeks a year... Darden goes after the most expensive time slots... Darden has virtually ignored digital marketing...",
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      "text": "advertising spend: $252 million",
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      "text": "In an attempt to make up for its unfocused message and inefficient advertising mix, Darden has simply spent more dollars on the same ineffective programs, and this has not helped traffic – by analyzing advertising spend with a focus on ROI, we believe we can improve reach while reducing cost.",
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      "kind": "source-note",
      "text": "Source: Company filings and Kantar Media & Nation's Restaurant News. (1) Concepts used for comparison include Applebee's, Chili's, Outback Steakhouse, Buffalo Wild Wings, and TGI Friday's.",
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      "text": "Effectiveness of ad spend can be substantially improved through a clear and focused advertising strategy",
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