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companies will often use a product differentiation strategy when they have a competitive advantage, such as superior quality or service. For example, the shoes manufacturers may set themselves apart from competitors with their superior engineering design or manufacturing technology. Obviously, companies use a product differentiation strategy to set themselves apart from key competitors. However, I believe that a product differentiation strategy can also help a company build brand loyalty. It can see that today, the company is known in the local industry and it is amongst the top companies who can produce a high quality pair of sports shoes and ladies fashion leather shoes.

3. Skimming Strategy

A price-skimming strategy involves charging high prices for a product, particularly during the introductory phase. The company will use a price-skimming strategy to quickly recover its production and advertising costs. However, there must be something special about the product for consumers to pay the excessive price. An example would be the introduction of a new technology. By doing this, it may be the first to introduce a new type of new sport shoes aerodynamic design or leather formal shoes modern styles. Because the company is the only one selling the product, customers that really want in trend by wearing new one and willing to pay the higher price.

4. Acquisition Strategy

According to the size of company with extra capital may use an acquisition strategy to gain a competitive advantage. An acquisition strategy conduces purchasing another company. For example, the company may purchase a polyester factory or a leather factory in order to expand its operations and to control cost of shoes raw material.

5. Cost Leadership

The benefit of formulation this business strategy is that the company will consciously choose to position its company as a provider of products or services at the low end of the pricing point compared to its competitors. Moreover, it could make up in volume what they may forfeit in terms of a high price point. On the other hand, Cost leadership is a business strategy that allows a company to become the lowest cost production company in an industry. Traditionally, businesses have two key options for improving profits by increasing sales or decreasing costs. By doing this, the company need focus more on acquiring raw materials that are the highest quality at the lowest price. Another important aspect is that the company must also use the best labour to transform raw materials into valuable consumer goods. Low-cost leadership usually translates into high-quality goods at low consumer prices. The capability to undercut a competitorsaa‚¬a„￠ price often leads to increases in market share.

In term of suggestion, what types of strategies should be formulated for Excellent Shoes Manufacturing Pte Ltd; I claim that the company could bring the result from the step of strategy analysis and to consider in these questions, what the external and internal environments that are confronting are? How the company can organizes and combines its resources in order to build its strengths, to eliminate its weaknesses and to sustain core competencies? How the company can achieve to find good opportunities for growing the business and to keep changing of posing a threat.

From the consideration in those questions, I feel that I