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  "docSlug": "f39479b88775",
  "documentTitle": "Herbalife, Ltd. (HLF)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-08-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 16,
  "pageCount": 63,
  "prevPage": 15,
  "nextPage": 17,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "The slide uses a yellow callout box to emphasize the lack of consumer value in the Preferred Customer program.",
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      "kind": "callout",
      "text": "Without ever enrolling, a person who is not a Preferred Customer can purchase product from a distributor – potentially at a discount – but may NOT make retail purchases at Herbalife’s ‘retail locations’\n\nEven after enrolling and paying 100RMB, Preferred Customers must pay full, undiscounted Retail Prices when they purchase products from Herbalife",
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      "kind": "callout",
      "text": "The only reason to enroll as a Preferred Customer is to begin the qualification process to reach the level of Distributor and earn commissions",
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      "text": "The only reason to enroll as a Preferred Customer is to begin the qualification process to reach the level of Distributor and earn commissions",
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      "text": "Source: Interviews with Participants, Marketing Plan",
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      "kind": "title",
      "text": "Becoming a Preferred Customer",
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