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Essay / Research Paper Abstract
This 5 page paper examines the marketing strategy of American Express. Its rivalry and legal entanglements with Visa are duly noted. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: RT13_SA016Amx.rtf
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Unformatted sample text from the term paper:
other words, although Visa and Mastercard issues credit cards where a purchaser may extend payments, the basic Amex card requires the the user pay the balance in full at the
end of each month. Gradually, American Express has expanded into the credit market, and has had some success with its Optima products. It also offers an array of financial services.
American Expresss strategy is to market the cards to the higher end consumer. It does not target those with poor credit histories as some predatory banks do with Visa and
Mastercard deals that would make any financial advisors finger shake. Rather, it markets to those consumers who have money and want the convenience of having a card with no preset
limit and a great deal of perks to go with it. American Express provides a great deal of protection for the world traveler and is useful in emergent situations. For
example, a Visa and Mastercard with its preset limit may not be enough to provide quick access to cash in an emergency. With an American Express card, there is no
preset limit. Therefore, someone with good credit and money in the bank can use the strength of American Express to guarantee their purchases or cash large checks. Having no
preset limit of course does not translate to having no limit. One cannot just go buy an airplane on their Amex card without the assets to back up the purchase.
Again, it is not a credit card and only a small part of Amex extends credit in such a manner. While Amex technically does not compete with the typical Visa
or Mastercard product, in many ways people think of their American Express card in much the same way as they think of their Mastercard and Visas. Thus, Amex must compete
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