What are merge fields?
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A merge field is a field you can put in an email template, mail merge template, custom link, or formula to incorporate values from a record. For example, you can place a merge field in an email template so that the greeting includes the recipient's name rather than a generic “Hello!”.
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Merge field is a field element containing a reference to data field by its name . When a template document is mail merged with the values from a data source the data field information replaces the merge field
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