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  "docSlug": "8b6a62f49fba",
  "documentTitle": "Church & Dwight Co., Inc. (CHD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-09-05 00:00:00",
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  "pageNumber": 58,
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  "slideType": "competitive_analysis",
  "function": "name_villain",
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  "notes": "Uses Amazon search results and price history charts to demonstrate brand dilution and price erosion.",
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      "kind": "callout",
      "text": "Indeed, of the first 14 search results for the generic term “water flosser” on Amazon, only one is a Waterpik, and more than half the results for an Amazon search of the term “Waterpik” itself are competing products.",
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      "kind": "chart",
      "text": "Increasing Competition In The Water Flosser Space Driving Down Prices For Some Models",
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      "text": "Amazon Search For “Waterpik”: 57% Of Results Are Competitors",
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      "text": "Amazon Search For “Water Flosser”: One Waterpik Result",
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      "text": "As the first mover in the space, the Waterpik brand naturally gained strong visibility, and has since become synonymous with the product category. Not surprisingly, however, the competitive landscape has grown increasingly crowded in recent years, with both household name consumer product companies (Panasonic, Philips, etc.) and no-name copycat brands congesting the space. Indeed, of the first 14 search results for the generic term “water flosser” on Amazon, only one is a Waterpik, and more than half the results for an Amazon search of the term “Waterpik” itself are competing products.",
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      "kind": "title",
      "text": "Waterpik: A Pressured Brand In A Maturing Industry",
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      "evidence": "The overall thesis implies that failing to act on Spruce Point's analysis could lead to significant financial losses for investors holding onto CHD stock.",
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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