The company pioneered the rewards system for credit cards that allows people to earn cash pack and rewards dollars for their everyday purchases. For instance, it offers the bluebird program for low net worth individuals who would not otherwise be eligible for high credit limits.
This creates pull from the middle and lower classes of society that have a strong desire to emulate the wealthy class. Conclusion In summary, American Express has created a unique brand message in a crowded financial services market. Many celebrities and professional athletes show off this card as status symbol.
From there, it offer the gold and platinum cards for bulk for American consumers. This branding strategy has allowed AMEX to reach a wide audience, despite differences in purchasing power.
AMEX has managed to reach a very large class of people by offering a range of highly targeted products. While all competitors now offer similar programs, being the first to do so has greatly helped American Express build a loyal following.
These cards have credit limits ranging from 5K to 20K and are suitable for the average middle-class family with stable employment. My all time favorite brand is American Express AMEX for the ability to stand out in the highly competitive financial services sector.
When you purchase a product that is backed by the AMEX logo, you have confidence that there is strong customer service behind the scenes.
This message focuses simply on the ability to use credit to buy goods that would otherwise be unaffordable. The strong reputation of dedicated customer service provided by American Express is the primary component of the brand that trumps its competitors.
The company has created a highly efficient system for individuals to use plastic credit cards as status symbols. The business model of AMEX serves as a good example for other companies looking to reach customers among multiple social classes.
As long as the company continues its commitment to customer service I will continue to be a lower customer.
Again, this is not something you would expect from other competitors in the financial services industry. Favorite Brand — Introduction Engaging consumers in the modern business environment requires savvy branding efforts from companies in virtually every industry.
However, the lower fees come at the cost of customer service and flexibility. This move makes the company stand out relative to its main competitors of Visa and MasterCard. The following paper will analyze the brand and explain how effective branding has fostered financial success for stakeholders.
Loyal Customer Relationships Across Different Groups The financial services sector has a very broad customer base because virtually every average citizen requires some form of financial service.
These two cards have slightly large availability rates among businesses because they offer lower transaction fees.MKT/ Write a to 1,word paper in which you identify your favorite brand and explain why it is your favorite.
In the paper you should do the following: Identify a brand about which you are passionate. May 20, · Download today @ killarney10mile.com NEW UPDATED CLASS! UOP TUTORIAL MKT/ Week 2 - UOP Tutorials Favorite Brand Paper Word Count: Description.
MKT Week 1 Individual Assignment, Favorite Brand Paper. Write a to 1,word paper in which you identify your favorite brand and explain why it. 1 MKT/ Favorite Brand Paper The public chooses a favorite brand because of a product that goes with the brand that they are passionate about.
It is something that you will continue to use for years, so quality and dependability is of a primary concern. Home Essays Mkt Week 1 Paper.
Mkt Week 1 Paper. Topics: Marketing MKTWeek 4, DQ 1: What is a distribution channel? What is the relationship between channels of distribution and logistics? Favorite Brand Favorite Brand Creating a brand is important for a business. This helps customers recognize the products and. This paper has "Apple" as my Favorite Brand.
Week 1 Individual Assignment for academic year Write a to 1,word paper in which you identify your favorite brand and explain why it is your favorite.Download