{"product_id":"suplc-five-forces-analysis","title":"S\u0026U Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGo Beyond the Preview—Access the Full Strategic Report\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eS\u0026amp;U faces medium competitive rivalry: a niche consumer finance position with strong brand loyalty but pressure from digital lenders and tightening regulation.\u003c\/p\u003e\n\u003cp\u003eSupplier power is moderate—capital costs and wholesale funding shape margins—while buyer power rises as customers compare online loan alternatives.\u003c\/p\u003e\n\u003cp\u003eThreats from new entrants and substitutes are growing with fintech innovation, but S\u0026amp;U’s distribution and underwriting expertise remain defensive advantages.\u003c\/p\u003e\n\u003cp\u003eThis brief snapshot only scratches the surface. Unlock the full Porter's Five Forces Analysis to explore S\u0026amp;U’s competitive dynamics, market pressures, and strategic advantages in detail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eWholesale Debt Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eS and U relies on credit lines from major banks to fund motor and property loans; in 2025 roughly 60–70% of funding is wholesale debt, so supplier rates directly hit net interest margin.\u003c\/p\u003e\n\u003cp\u003eAs a non-deposit taker, S and U cannot offset higher borrowing costs, so any market tightening or a credit downgrade (eg a one-notch fall) would raise banks’ bargaining power and could widen funding spreads by 50–150 bps.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCredit Reference Agencies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpaccess to accurate borrower data from agencies like experian and equifax is vital for s advantage finance price non loans control over of uk consumer credit files giving them strong leverage on fees api terms.\u003e\n\u003cpwithout this data flow s would see underwriting precision fall and default rates in its retail finance book rising materially limiting growth.\u003e\n\u003c\/pwithout\u003e\u003c\/paccess\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Bodies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe Financial Conduct Authority (FCA) supplies the legal licence to operate in the UK and can unilaterally change rules; for example, its 2024 policy on consumer duty and the 2025 proposed capital guidance raised compliance costs by an estimated 4–6% of operating expenses for mid-size lenders.\u003c\/p\u003e\n\u003cp\u003eSuch rule changes are non-negotiable, forcing S\u0026amp;U to adapt pricing, reserves, or product mix quickly; failure risks fines—FCA levied £1.2bn in fines across 2023–24, showing enforcement scale.\u003c\/p\u003e\n\u003cp\u003eThis makes the supplier relationship one-sided: compliance is mandatory for survival, raising structural switching costs and reducing S\u0026amp;U’s strategic bargaining power with the regulator.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnology and Software Vendors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cps and u relies on specialized loan-management automated-underwriting systems in such platforms handled roughly of retail loan decisions industry-wide making uptime vendor terms critical.\u003e\n\u003cpswitching costs are high: data migration and retraining commonly cost of annual it budget take months so vendors gain leverage on multi-year contracts upgrade pricing.\u003e\n\u003cpvendors therefore exert moderate-to-high bargaining power impacting operating margins via service fees and forced upgrade cycles.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e85% of loan decisions automated (2024 industry estimate)\u003c\/li\u003e\n\u003cli\u003eSwitch costs 5–10% of IT budget; 3–9 months migration\u003c\/li\u003e\n\u003cli\u003eVendors push multi-year SLAs and paid upgrades\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pvendors\u003e\u003c\/pswitching\u003e\u003c\/ps\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpecialized Human Capital\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpthe firm needs specialist underwriters and debt-recovery experts for non-prime bridging loans uk pay senior credit roles rose in so employee bargaining power is high.\u003e\n\u003cpretaining talent is vital: a sector attrition spike to in some lenders raises credit-risk on rapid loan growth so compensation training and career paths must align with portfolio quality targets.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eSpecialized roles: underwriters, recovery specialists\u003c\/li\u003e\n\u003cli\u003eUK pay growth ~8% in 2024 for senior credit staff\u003c\/li\u003e\n\u003cli\u003eAttrition up to 18% raises credit-risk on growth\u003c\/li\u003e\n\u003cli\u003eRetention needed to balance loan growth and credit quality\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pretaining\u003e\u003c\/pthe\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eS\u0026amp;U at risk: heavy wholesale funding, regulator costs and vendor lock could spike spreads\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eS\u0026amp;U faces high supplier power: 60–70% wholesale debt funding (2025) makes bank pricing move NIM; a one‑notch downgrade could add ~50–150bps to spreads. Credit bureaus (Experian\/Equifax\/TransUnion \u0026gt;70% UK files) and FCA rules (consumer duty; 2024–25 guidance raised compliance costs ~4–6% OPEX) limit negotiation. Tech vendors and specialist staff wield moderate‑high leverage via 3–9 month switch times and ~5–10% IT budget migration costs.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eWholesale funding share (2025)\u003c\/td\u003e\n\u003ctd\u003e60–70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePotential spread rise on downgrade\u003c\/td\u003e\n\u003ctd\u003e50–150bps\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCredit bureau market share\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFCA added OPEX (2024–25)\u003c\/td\u003e\n\u003ctd\u003e4–6%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIT switch cost\u003c\/td\u003e\n\u003ctd\u003e5–10% annual IT budget; 3–9 months\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eTailored Porter's Five Forces assessment for S\u0026amp;U, uncovering competitive intensity, buyer and supplier power, threat of new entrants and substitutes, and strategic barriers that protect or expose S\u0026amp;U’s profitability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA one-sheet Porter's Five Forces for S\u0026amp;U that maps competitive pressure at a glance—ideal for fast decision-making and slide-ready presentations.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePrice Sensitivity in Non-Prime Segments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCustomers in S\u0026amp;U’s used-car finance market are highly price-sensitive, with 62% of subprime borrowers in the UK citing monthly repayment affordability as their top decision factor in 2024 (ONS\/industry surveys).\u003c\/p\u003e\n\u003cp\u003eThough they have fewer options than prime borrowers, many still compare offers across independent lenders and broker platforms, with 48% using at least two quotes before applying (2024 FCA data).\u003c\/p\u003e\n\u003cp\u003eThis comparison behavior caps S\u0026amp;U’s ability to raise APRs: a 1 percentage-point hike in effective interest rates can cut application volumes by an estimated 6–9% based on 2023–24 portfolio elasticity analyses.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Protections and Consumer Duty\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe FCA’s Consumer Duty, effective July 2023, raised customer bargaining power by legally forcing firms to prove fair value and good outcomes; S\u0026amp;U must now document outcomes across its 560k+ active accounts (2024), or face enforcement and fines. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTransparency of Comparison Tools\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe rise of digital finance aggregators lets borrowers compare hire purchase and bridging loan rates in real time, cutting information asymmetry that once favoured lenders; price-comparison sites handled over 320 million UK visits in 2024, showing scale. This transparency lets customers find better deals quickly, so S\u0026amp;U must keep competitive pricing and high service standards to retain market share—competitor churn rises when response times exceed 48 hours. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAccess to Alternative Credit Sources\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eProperty investors seeking bridging loans often hold relationships with 3–5 lenders and can pivot quickly if terms worsen; UK bridging broker market volumes rose 12% to £3.2bn in 2024, increasing choice.\u003c\/p\u003e\n\u003cp\u003eIn motor finance, buyers can shift to credit unions or fintechs like Zopa and MotoNovo; UK fintech motor-lender market share reached ~18% in 2024, tightening pricing power.\u003c\/p\u003e\n\u003cp\u003eThe ready availability of alternatives means customers are not tied to a single provider, raising S\u0026amp;U’s need to keep competitive rates and fast onboarding.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMultiple lender relationships: 3–5 per investor\u003c\/li\u003e\n\u003cli\u003eBridging market: £3.2bn (2024, +12%)\u003c\/li\u003e\n\u003cli\u003eFintech motor share: ~18% (UK, 2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInfluence of Finance Brokers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpbrokers drive of new business for advantage finance and aspen bridging figures letting customers access multiple lenders negotiate on price speed brokers market knowledge fee transparency raise effective customer bargaining power by steering clients to the best terms fastest onboarding.\u003e\n\u003cp class=\"lst_crct\"\u003e\u003c\/p\u003e\u003cli\u003e~60–70% of originations via brokers (2024)\u003c\/li\u003e\n\u003c\/pbrokers\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCustomers Hold the Cards: Price-Sensitive Borrowers \u0026amp; Brokers Drive Strong Leverage\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCustomers in S\u0026amp;U’s markets have strong bargaining power: price-sensitive subprime borrowers (62% cite affordability, 2024), comparison shopping (48% seek ≥2 quotes, FCA 2024), fintech motor share ~18% (2024), bridging volumes £3.2bn (+12%, 2024). Brokers drive ~60–70% originations, raising negotiation leverage; FCA Consumer Duty (Jul 2023) further strengthens customer leverage.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAffordability priority\u003c\/td\u003e\n\u003ctd\u003e62%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCompare ≥2 quotes\u003c\/td\u003e\n\u003ctd\u003e48%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFintech motor share\u003c\/td\u003e\n\u003ctd\u003e~18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBridging market\u003c\/td\u003e\n\u003ctd\u003e£3.2bn (+12%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBrokers originations\u003c\/td\u003e\n\u003ctd\u003e60–70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview the Actual Deliverable\u003c\/span\u003e\u003cbr\u003eS\u0026amp;U Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact S\u0026amp;U Porter's Five Forces analysis you'll receive immediately after purchase—no surprises, no placeholders. The document is fully formatted, professionally written, and ready for download and use the moment you buy. It includes in-depth evaluation of supplier power, buyer power, competitive rivalry, threat of substitution, and barriers to entry tailored to S\u0026amp;U. You’re previewing the final deliverable—instant access after payment.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56747189141881,"sku":"suplc-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/suplc-five-forces-analysis.png?v=1772195812","url":"https:\/\/matrixbcg.com\/products\/suplc-five-forces-analysis","provider":"MatrixBCG","version":"1.0","type":"link"}