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Transcript of American Express
-Began as an express shipping company.
-Grew into a travel services company.
-Evolved into a global payments company
-Issued first charge card in 1958
-In 1967 1/3 of the total profit came from its charge card business.
-60's and 70's stepped up its marketing efforts.
-90's New Ad campaign "Do More" was launched.
-Rebranded their Small Business Services division as
"Open: The Small Business Network"
Scored a huge legal victory against Visa and Mastercard in 2007
-which acquired them 26 million more customers
Global economy collapse in 2008 - 2009 resulted in dumped financial results.
Stock price fell 64%
-In 1891 created the first internationally accepted "Travelers Cheque"
-1970's "Don't leave home without it"
-74 - Blue Box logo appeared
-American Express was perceived as a status symbol.
-80's it expanded into financial categories
'Small business owners are fundamentally different from people who work for large companies"
Two Revolutionary new credit cards
Continued membership rewards program
2000's introduced two new marketing campaigns
"My life, My Card"
"Are you a Cardmember"
Changed its core strategy
of who they targeted.
Despite disappointing financial results, they were named 15th "Most Valuable Brand in the World"
One of the top 30 "Most Admired Companies"
"Top 5 Most Popular Cards from 2009"
-Preferred Rewards Guest Credit Card
-Starword Preferred Guest Credit Card
-Gold Delta Sky Miles Credit Card
-Preferred Reward Green Card
Evaluate American Express in terms of its competitors. How well is it positioned? How has it changed
over time? In what segments of its business does
American Express face the most competition?
American Express is well positioned because it has been around longer then its competition. It has evolved over time and become a larger known brand and been used by more consumers. It faces the most competition by the other Credit card companies when it comes to how much they charge and who can get the cards that they are offering.
Evaluate American Express’s integration of its various
businesses. What recommendations would you make
in order to maximize the contribution to equity of all its
business units? At the same time, is the corporate
brand sufficiently coherent?
They are doing good at integrating all of their businesses. They have credit cards for the wealthy and the middle class. They offer a lot of help for small businesses which is a big brand for them. They need to concentrate on keeping up with all small businesses and get some more corporate companies since corporations will bring in a lot of business.
Discuss the company’s decision to grow beyond its
core affluent consumer base. What did this do for the
company and the brand?
By deciding to grow out of what they were originally targeting, American Express got new consumers. They got the small businesses and that's what they needed. There are more small businesses now then there were before. This has helped them to get the new consumers and by offering rewards this also helps them with their consumers. The brand is now more then ever known and wanted.