(a) Strengthen research and development capabilities
Research and development has been a key part of the Eagle Group’s historical success. The Eagle Group proposes to expand its research and development team from 21 employees to approximately 30 employees in the next two years and continue to collaborate with research institutions in China on product research, development and commercialisation.
(b) Expand and diversify product offerings
To keep abreast of changing consumer preferences, the Eagle Group takes an iterative approach to innovation, with new products that generate stronger sales growth being retained and their range expanded upon, while those whose performance is not as strong are discontinued.
(c) Sourcing ingredients from Australia and Australian made health food and nutritional products
There have been a number of examples of food contamination incidents in China which have left Chinese consumers less trusting of domestically-produced products and more trusting of well-known foreign brands from countries with reputations for manufacturing quality products.
(d) Continue investment in building brand and marketing
The Eagle Group invests capital and resources to promote its brands and to market its products so as to increase brand recognition, build customer loyalty and drive revenue. To further enhance its brand awareness, the Eagle Group will continue to develop consumer insights in the growing health and nutrition segment and employ effective marketing strategies to promote the brand and the products.
(e) Expand sales channels
The Eagle Group proposes to strengthen its distribution network by enhancing its existing relationships with distributors and further expanding its current distribution and sales network to access additional points of sale. This will enable Eagle Group to further penetrate its existing markets and to expand into new markets.
??The Eagle Group also believes there is an opportunity to:
(i)expand its distribution network in second and third-tier cities in China;
(ii)expand its distribution network to rural market in China;
(iii)expand special distribution channels such as gym chains; and
(iv)increase direct to consumer capabilities through online sales and direct selling.??
(f) Upgrade production facilities
The Eagle Group will upgrade its production facilities to increase automation, to enhance product quality and manufacturing efficiency, and to improve production capabilities.
(g) Seek to identify compelling investment and acquisition opportunities
As the health food and nutritional products industry in China continues to develop, the Eagle Group anticipates that investment and acquisition opportunities will continue to emerge. Australia is mature and well advanced in this industry.
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