Transcript: AMERICAN EXPRESS Table of Contents Needs & Wants Customer Segments Competitors Products Promotion & Distribution Marketing & Planning "Are you a card member?" Customer Segments?? Competitors DFS Pulse Network Products Promotional Strategies Over 40 Countries! Future Plans SWOT ANALYSIS in 2012 AMEX has an advantage over its competitors Students Individuals with above average income Credit, Debit & Charge Cards Also Amex Distribution insurances That's All Folks! Marketing Planning Individuals with High Income Minor Any Questions?? Strengths Opportunities Weaknesses Threats Strong brand equity Global Reach Brand Loyalty Global expansion, particulary in China Financial services product expansion Divestment of AEB and AEIBC Lack of point-of-sale Declining traverler's check business Heavy competition Financial Turmoil
Transcript: Benefits & Service Of Membership Annual Fees 2 Different Cards are the world's largest card issuer by purchase volume process millions of transactions daily as the premium network for high-spending card members. help small business owners succeed by delivering purchasing power, flexibility and financial control. provide commercial payment tools and expertise that help companies control their spending and save billions of dollars. offer marketing and information management insights that help merchants build their businesses. Where Can I Use My Card ? Use Points Many Ways : you can earn points on each dollar of eligible purchases when you use your Card. Earn Cash Back Easily : Earn cash back with every eligible purchase. You can get cash back when you spend on gas, groceries, and more. Travel With Confidence : Make the most of popular airline and hotel loyalty programs. Earn miles or points you can use with partners like Delta or JetBlue depending on your Card. American Express offers Cards both with and without an annual fee. Like the many American Express rewards and benefits, these annual fees will vary depending on the Card. You can choose the Card with the features that can fit your lifestyle. About American Epress All American Express Cards come with access to benefits and services that can help with everything from saving money to traveling safely. No matter which Card you choose, Card membership provides access to benefits and services that can match your lifestyle. Paying Your Balance American Express Cards are welcomed at millions of businesses across the U.S. alone. From high-profile brands to independent merchants, the number of places you can use your Card is growing every day. THANK YOU !!! Awards You Can Get How To Apply STEP 1: Find the Card That's Right for You You can view and compare all our Cards and their benefits. STEP 2: Apply Securely Online Complete your application in a few clicks. Your information is encrypted so it can't be viewed by another party. STEP 3: Get a Decision in 60 Seconds You can receive a decision in as little as 60 seconds, and may be eligible for instant membership - giving you access to your Card number immediately. Pay Your Balance in Full : A Charge Card has no interest charges because you pay your balance in full each month, and a flexible spending limit that can adjust over time. Carry a Balance With Interest : A Credit Card gives you the flexibility to either pay in full or carry a balance with interest month to month. We have Cards that can fit everyone's payment needs. Depending on your Card, you will pay your full balance each month or carry a balance with interest American Express by : Lela Claresa-Anne Sellers ANY QUESTIONS???
Transcript: American Express The Person Behind The Customer Service Experience customers say that the wait time is very minimal, and 99% of the time, customer service representatives are able to find a solution to the problem. If they are not able to find a solution, they are certain to find someone who can. Customers add that, American Express makes you feel important and well worth their time. there are very rewarding perks to using the American Express card, and the Customer Service Reps will tell you about it. American Express did parallel with the research we have accumulated. I was already satisfied with their customer service, and now i know i can back up my satisfaction. Being a understanding Customer, i am aware that the company is large so therefore it may be hard to shorten the wait time, going off of that, i do not think there is a way to improve their customer service. Discover is ranked at really high customer service but still falls under American Express... fortunately American Express "AMEX" Why It Matters When I called American Express because my card wouldn't go through, they were eager to find the solution to the problem. i talked to a lady names Carly, she was very helpful and gave him very good tips for using my card that i had no idea about such as, how many points i need to earn certain rewards. therefore Carly was a very good employee behind the customer service experience. customer service is the most important part in a company because they are the ones bringing in the money. "It is not the employer who pays the wages. Employers only handle the money. It is the customer who pays the wages." The Customer Service Experience History three founders of American Express- Henry Wells, William G. Fargo, and John Butterfield. Amex was originated in 1850, but not as a credit card company but as a freight company. The demand back then was a way to transport goods and money to other people globally. they were among the first and most successful freight company. the U.S postal service was partially not existent in some areas, and couldn't send more than a letter. 1882-developed a money order business 1958- first charge card issued, reported over $1,000,000,000.00 in earnings. Our Experience with American Express
Transcript: Small Business Credit Cards Publishing Community Involvement Overview Company Separate elements Subject 3 Who do they Market to? Centurion Prepaid Card Departments Corporate Cards Subject 2 Competition & Finances Company Values Credit Cards Financial Advisory Customer Care Human Resources Client Management Sales Personal Accountability Quality A Will to Win Digital Commerce Business Plum Marketing Jeffrey C. Campbell Executive Vice President and Chief Financial Officer Travel Team Work Operations Business Gold Rewards Edward P. Gilligan President William Fargo Savings Accounts & CDs John D. Hayes Executive Vice President and Chief Marketing Officer Finance Good Citizenship Consulting Henry Wells Technology Kenneth Chenault Chairman and CEO Customer Commitment Integrity Respect for People John Warren Butterfield Consulting Digital Commerce Business Green Risk Management Vision Statement “We work hard every day to make American Express the world’s most respected service brand.”
Transcript: Atmosphere A very competitive environment where everyone want you to succeed because the better I do the better everyone else dose Continued... Working with a wide verity of individuals, senor veterans to new hire classes Friendly competition is encouraged world wide stacked ranked against one another Over View My Team Responsibility's 360 Feedback continued... Example of 360 feedback Another way 360 feedback is reinforced at American Express is having the superiors like Calvin Carson the Service delivery leader provide feedback from organizational stand point. Working with my direct manager Nathan (Learning Specialist) provides feed back not only on what he observes on a daily bases but through listening to my call recordings but also sitting next to me providing live feedback. 360 Feedback With in the GSN I focuse on helping our customers by collecting the money Feedback is not a one way street in GCA the information flows up the chain of command; leaders seeking feedback for Learning spectacles Global Servicing Network (GSN) Training for one month Show me the money All about the numbers Metric base driven Monthly collections goals My performance Certified in period five Exceeding most of my metric goals American Express GSN works and lives in a feedback culture for continues improvement Simply put my Internship at American Express has been one of the greatest opportunities I have came across so far Global Servicing Network
Transcript: 62,500 $153,337 William Fargo John Warren Butterfield Henry Wells New York City, New York American Express Employs Profession Founders Banking, Finance, and credit cards Main Competitors Financial Worth By: Kacie Smith 1850 Date it was incorporated Location of Headquarters Visa, MasterCard, Discover
Transcript: American Express -Began as an express shipping company. -Grew into a travel services company. -Evolved into a global payments company -90's New Ad campaign "Do More" was launched. -Rebranded their Small Business Services division as "Open: The Small Business Network" Continued membership rewards program 'Small business owners are fundamentally different from people who work for large companies" 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. 2000 Global economy collapse in 2008 - 2009 resulted in dumped financial results. Stock price fell 64% 19th Century 2005 "Are you a Cardmember" -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 2010 Despite disappointing financial results, they were named 15th "Most Valuable Brand in the World" One of the top 30 "Most Admired Companies" 2000's introduced two new marketing campaigns "My life, My Card" 50's -60's "Top 5 Most Popular Cards from 2009" - Platinum -Preferred Rewards Guest Credit Card -Starword Preferred Guest Credit Card -Gold Delta Sky Miles Credit Card -Preferred Reward Green Card Two Revolutionary new credit cards - Blue -Centurion Black -In 1891 created the first internationally accepted "Travelers Cheque" -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. Changed its core strategy of who they targeted. Scored a huge legal victory against Visa and Mastercard in 2007 -which acquired them 26 million more customers
Transcript: Corporate Responsibility Values: Customer Commitment Quality Integrity Teamwork Respect for People Good Citizenship A will to Win Personal Accountabilty Centralized Hierarchy CEO (Kenneth I. Chenault ) Directors, CFO (Daniel Henry) Middle Management AmEx Financial Services Company (NASDAQ: AXP) Global Marketing One way AmEx battles competition is through their Benefit Programs - i.e. The Blue Cash Everyday Card Organizational Structure Current Ratio- Below Industry Average Debt/Equity Ratio- Lower than Industry Average Asset Turnover Ratio- American Express is able to generate more using their assets compared to the industry average. Compared to their competitors, they can earn more revenue with fewer assets. Corporate Ethics Marketing Kimberly Conigliaro Pawel Dzwierzynskl Alexa Montalvo Daniel Pellegrin Omar Rubio Competitive Marketing Strategy: Variety Branding Positioning Finance Cont.. * He joined American Express in 1981 working in Strategic Planning Group. * He was promoted to CEO in 2001 * While being CEO of American Express in 2007 he earned total compensation of $50,126,585, in 2008 he earned total compensation $42,752,461, and in 2009-$16,617,639 "In 2013, there was more profitability within the company as earnings per share were $4.91. Shareholders enjoyed a total return of 60%" Revenues Come From: Discount Interests Contracts Insurance on Cards Fees Commissions Finance Mission Statement: “Helping Customers Do More and Achieve More” Vision: We work hard every day to make American Express the world’s most respected service brand. Products And Services: * Credit Cards, Charge Cards, Corporate Cards, Prepaid Cards, Gift Cards * Banking Services i.e: Web-Based Savings Accounts * Stats as of 2013 CEO - Kenneth Irvine Chenault At Home in its Market*: 62,848 employees worldwide 1072 million cards-in-force $107.2 billion in total assets Ethisphere Recognized: 2007 - 2011 Competition: Visa - Very High Acceptance Rate - Available in 170+ Countries MasterCard - Available in 210+ Countries
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