Background American Express was among the first few organizations to launch a successful cause related marketing campaign and raise funds about $1.7 million for the Statute of Liberty restoration project. In a competitive market, where every organization is working hard towards winning their customer’s loyalty and employee’s morale, Cause-related marketing (CRM) help organizations gear up towards building a differentiating image. According to a study (Varadarajan & Menon) published, CRM is a marketing program created to achieve two objectives - improve corporate performance and help worthy causes - by linking fund raising to the firm’s product sales. This philanthropic view of “Doing better by doing good” was considered as a WIN-WIN-WIN situation for all parties – Corporates develop a socially responsible image with better bottom-lines; Non-profits receive funds with cause awareness and Customers feel…
card companies has definitely increased. American Express is facing some weaknesses that need to be solved. Nowadays, American Express is having a tougher time accommodating to new realities in the world of payment processing. The target consumers are people with strong buying power in Eastern Seaboard and the California coastline that are 30-50 years old. The consumer group is not applying to many retailers and wholesalers such as Costco. Costco was one of the few retailers that only accept…
Environmental Scan: Specific Environment Current Rivalry The existing competitors of American Express include Discover Financial Services, Visa, Inc., and MasterCard Worldwide. Unlike American Express and Discover, Visa, and MasterCard do not finance, which means these companies are intermediaries and “they don’t directly finance credit card transactions” (Thangavelu, 2015). That being said, Discover is more in American Express’ strategic group because they both issue cards and work within the…
1. Personality and Leadership Style Irrespective of which commerce you’re in, if you’re seeking for guidance on corporate, management, leadership, and individual expansion, one person to refer to is American Express CEO, Ken Chenault. Chenault has decades of knowledge, although he isn’t your conventional businessman; whereas, he isn’t a founder of a company in high school, invent a manufactured article in college, or even open a company; further, his intellectual education is in history and law.…
Global Expansion Strategy: 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,…
What the points can be redeemed for is not entirely clear. American Express gives examples of items that can be earned with the points, but doesn't connect any actual value to the items. If the offer was more clear it might motivate more potential customers to actually apply for the…
trust with personal information. Impact on the societal stakeholders such as community, environment, government, or regulators. Was significant after the housing market bubble busted, the government become more involved in the banking industry and issued new government regulations and the government, also had to bail out some of the other lending companies. Another impact on societal stakeholders was the community lost all confidence in Wells Fargo to do responsible banking. Undoubtedly, Wells…
The 1985 American Express card commercial starring the famous author Stephen King is particularly effective in its cleverness to full audiences. The ad relies strongly on the fallacy of appeal to authority and the scare tactic of the unknown. Urgency and fear have been created ingeniously in its tone and imagery. Although the ad does strongly use this fallacy and an underlined emotion of fear to persuade its audience, the result is enormously effective. First, the ad starts with lightning…
According to Jennings (2012) Mr. Lee’s was employed by Lehman Brother on May 18, 2008. The Chief Finical Officer and Chief Risk Officer of Lehman Brothers had employed Mr. Lee as an analyst since and he controlled global balance-sheet and legal-entity accounting (Jennings, 2012, p.289). According to Jennings (2012) Mr. Lee provided a brief synopsis on the alarms he has regarded Lehman Brothers. Mr. Lee describes that the Lehman Brothers had “tens of billions of dollars” on the organizations…
I noticed this two years ago when I moved here with my family. We can define and recognize people from other countries, but still we try to communicate in the best possible way and to learn the meaning of special words when we are talking to them. Inside the United States, we have lots of different communities, such as American, Black, Hispanic, and others. The interesting thing about this is that inside them we have lots of sub-communities which have their own dialects. For example, in American…