The paper "American Express Brand" is a perfect example of a case study on marketing. American Express is a financial services card company with a rich history that continues to do extremely well in the global financial services market. A company that started out shipping packages quickly learned that what people really needed to ship was money. From credit cards through to travelers’ checks to commerce financial management and social cause participation, American Express handles global business in a style that is simply unequaled and inimitable by other worldwide financial services companies.
As of now, American Express is the fifteenth (15) most valuable brand on the globe. Its value is reckoned at a staggering $21 billion. It was set up in 1850 in Buffalo, New York by Henry Wells, William Fargo, and John Butterfield. American Express later relocated to Manhattan. Presently it is headquartered directly across from ground zero in downtown Manhattan. When considering the impact that American Express has on businesses and consumers alike, globalization is the notion that springs to mind (Joseph 29). Brand equity is described as the identity, mark, expression, character or purpose of what makes the commodities or services unlike from those rivals and for vendor groups.
Despite the fact that the import suggests that it is bestowed worth that has been conveyed with manufactured goods or service; ruminating the consumers’ reaction: gratification, anticipations, etc. In the ’ 60s, the American Express Brand was characterized by prestige, security, service, international acceptability, and leisure. This perception was embedded in consumers’ minds through blistering marketing campaigns rolled out at the beginning of this period. As the card business worldwide persisted in expansion at a staggering pace, more offices were required to service the rising demand (Kapferer 210).
Although a late entrant into the card market, the American Express Brand built an aura of affluence around its card, by targeting the high end of the market segment; business travelers and the social elite. This strategy ignited a clamor for the charge cards, so much such that long before the card was available, thousands of clients had either written in or visited the American Express offices to apply for the card.
The frenzy was so intense that by the time the card was launched, a quarter of a million cards had already been issued and almost eighteen thousand outlets signed to accept the Card (Upshaw et. al 175). American Express is a financial card service, which has been known as the predominant brand among high-end clients. They have continued to develop their brand in a steady and consistent manner which is a strength that the service has. Americas Express’ global labyrinth networks of offices, travel agents and associated banks have been critical in building the cards’ membership exponentially fast.