American Express has a very long history of providing international services. American Express began its international expansion early in the 20th century to the financial institutions in some most prominent countries and cities around the world (Bus100jbristol, 2015). However, due to some unforeseeable world disasters, Amex reduced their products and services outside the country but still enjoyed a reputation in travel and financial markets overseas. In recent years, opportunity for international expansion is still an option and is also available to its competitors such as Visa and MasterCard (Bus100jbristol, 2015). The world has been changing and moving from offline to online in terms of transactions, so the world …show more content…
American Express also works with an exclusive network of card issuers and merchant acquirers around the world who share our commitment to delivering the world-class products and services. Therefore, Amex created American Express Global Travel, a joint venture, that provides leading travel solutions, integrated consulting services, proprietary research, and end-to-end meetings and events capabilities on a global scale (Postemsky, 2015). American Express Global Business Travel has operations and network partners in nearly 140 countries worldwide and about 14,000 employees (Postemsky, 2015). In addition, the Global Business Travel not only expand through customer’s products and services but also expand its global footprint through partnership and acquisitions. Amex also invested in technology markets such as Big Data and information management (Schaal, 2014). Information management enables Amex to consolidate models and analytic resources to support consumer and business-to-business organizations globally. American Express expands services in a wider range of countries and cities than its main competitors that mainly focus on the most desirable and financially profitable markets, including Berlin, Paris, London, and Zurich (Bus100jbristol, 2015). American Express focuses …show more content…
As said before, Costco declared to dump American Express in the U.S. and Puerto Rico in 2015; additionally, the American Express and Costco co-branded TrueEarnings would not be accepted. American Express’s lack of meeting differential market demands made Costco to drop American Express. To avoid that happening again, American Express should increase sales by expanding customer base to attract more brands to coordinate with them.
American Express should focus on customers’ needs first, managers need to provide solutions to the customer base by establishing strategy around these problems; when they create a social networking platform, customers can feel comfortable bringing potential problems to the manager’s attention. American Express continues to develop its implementation by absorbing customer’s feedback. This plan can build customer loyalty by participating more and providing