American Express: Branding Financial Services - Essay

Startling numbers from one study show that in the United States, 140 million credit card holders have 1.2 billion retail and credit cards (Lynott, 2008). Outstanding balances of

Bank of America is the largest US bank founded in 1904, it has expanded through several acquisitions. By the end of 2009, Bank of America was the market leader serving 82% of the US population and over 53 million customers. They are positioned as number one in online and mobile banking. Their mobile banking services were launched in 2007 and have gained 4 million customers in less than three years. Acquisitions made by Bank of America prior to the financial crisis caused a very strong drop in their stock price.

David Jones Limited (DJS) is an Australian retailer tracing its origins back to 1838 when it first opened in Sydney to sell “the best and most exclusive goods” (DJS, 31 Oct. 2009). It has since expanded to become a national retail chain comprising of nearly 40 premium department stores. The subject of this analysis is a strategic business unit (SBU) that is playing an increasingly important role in the company’s future growth strategy; namely the provision of financial services. As the result of a strategic alliance with American Express (AMEX), DJS launched the David Jones American Express (DJA) card in 2008 (ASX Media Release, 20 February 2008). To effectively analyse the value proposition of this SBU and product it is important to

In recent news, Bank of America publically announced its plan to make changes to debit card customer accounts in 2012 (Chang, 2011, NBC San Diego). To date, Bank of America has a “fee-free” policy on these types of accounts however; new regulations on debit card accounts are a hindrance to the Bank’s ability to maximize return on investments. As a result the bank is considering implementing a surcharge on checking accounts. However, the bank must determine if this will affect the attitudes and behaviors of customers. To achieve this, Bank of America must conduct business research.

American Express Company (NYSE: AXP), sometimes known as AmEx, is a diversified global financial services company headquartered in New York City. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best known for its credit card, charge card, and traveler's cheque businesses. Amex cards account for approximately 24% of the total dollar volume of credit card transactions in the US, the highest of any card issuer. [1]

On a periodic basis, the Federal reserve releases key statistics related to credit card debt in America. With almost 2,000,000,000 credit cards in use while in the hands of almost 200,000,000 individual credit card holders, there is no denying the popularity of these little pieces of plastic. Through May of 2015, Americans were responsible for $901 billion in credit

American Express is one of the main organizations with a solid, worldwide nearness over the whole installments chain. They are the world 's biggest card backer, with premium system for high-spending card individuals. They handle a great many exchanges every day, and have accomplices that give business-building administrations to an overall trader base. With them having this level scale crosswise over installments gives them different chances to develop their business and drive advancement in the commercial center. It 's additionally a portal to a more extensive exhibit of administrations that further separate American Express. ("Our Company," n.d.)

Personal branding is a concept that is geared for all people.  It is not just for famous people. Suze Orman started off like a normal person, but now she carries a strong name brand.  A simple person who wants to be successful and start branding their name.  Years later, they  may become a normal brand name in someone household.   The high increase in online searches and social media platform, personal branding, is relevant. According to Cohen (2014), personal branding is a necessity and marketers need to learn to understand branding.   Cohen (2014) stated personal branding  is required to establishing a good reputation with the consumers, with a good reputation that will be credibility, and personal branding is about enhancing longevity.   This paper will discuss what is needed in personal branding to be successful and why personal branding is important.

The merchant has their processor to clear American Express changes as well as MasterCard, VISA, and Discover. We will discuss American Express later. In order to look at his deal we should remove American Express from the computations.

Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.

As most travel agencies websites, Amex Web page offered the customer the possibility to research for flight only, flight with hotel, or flight with hotel and car as well as special offers for their members on hotels, vacations packages, complimentary resort stays. The commercial catch of American Express is that the web site offers customers many products with incentives and rewards with the convenience of a unique card when the travel is booked with them. An internaut can wander through the site without being registered but needs to become an American Express member to look deeper into detailed pages. The future customer has the obligation to detain one American Express cards; the gold or platinum car has an annual fee of 75 dollars, fees that can be waived for the first year as a promotion, or the blue or blue-sky card obtainable without any annual fee. Carrying an Amex card offers customary benefits to the travelers on a large array of services such as offering a no deductible and a collision damage waiver when renting a car as well as benefits in case of accidental death or dismemberment coverage with a very small premium. The web site offers a convenient one stop for reservations, planning, and payment arrangements for prestige travel around the world.

American Express, also know as AMEX, is a global financial services company headquartered in New York City and founded in 1850. With 54,000 employees and a revenue of over 35 billion dollars American Express stands tall on the New York Stock Exchange (Sec.gov). American Express is best known for it’s credit cards, which make up about twenty-five percent of total dollar volume in credit card transactions in The United States of America (Reviews.greatplacetowork.com). American Express’ goal is to maintain a leading and almost elite reputation with as many qualified card holders as possible. American Express does this by concentrating on the customer’s experience and branding that experience. American Express’ key components in maintaining and further exceling into this goal includes focusing on their human recourses, social responsibility, and marketing techniques.

American Express has plans to establish some more companies in other parts of the world which compares with the recommendations offered for the next three years, since it is recommended that the organization should establish other branches in different areas with an aim of attracting a large market share. The recommendation of advertising also compare with that of American Express since they have a plan to identify online services to attract many customers. American Express also considers partnership with other organizations which will

Citibank should launch the card product in Asia for several reasons. Firstly, Citibank can ride on the rapid economic development in the region via credit card products. Secondly, it is also an excellent way to overcome distribution limitations imposed on foreign banks in the region. Thirdly, it allows Citibank to expand its customer base from the upper income segment to include the rapidly growing middle-income households, which is consistent with its global growth strategy and mission in Asia Pacific. Fourthly, by introducing credit cards, Citibank will be able to cross-sell other product lines such as Auto Loans and Ready Credit

The American Express company also known as Amex, it is an American multinational corporation. The company was eventually started as an express mail business in Buffalo, New York. It was formed as a joint stock corporation through the merger of express companies owned by Henry Wells( Wells Company), William G. Fargo (Livingston, Fargo and company)and John Warren Butterfield (Wells, Butterfield and company).