American Express' Strategy for Customer Care: Advantages and Disadvantages

Topics: American Express, Credit card, MasterCard Pages: 6 (1736 words) Published: February 23, 2011
American Express’ Strategy

1 Introduction
This report has been compiled to list and describe the complexity of customer care in the business of credit cards. To evaluate American Express’ strategy for customer care, I spent most of the time identifying how this complex world works and its advantages and disadvantages. Therefore it must be pointed out that this report has been written in the current world’s economic crisis. 2 Procedures

* The first step to write this report was to select the company.

* The second step was to find and to process the data.

* The third step was to develop the report’s requirements.

* Finally I checked the coverage.

3 Findings

A) American Express’ strategy statement and standards for customer care.

Strategy makes up the final aspect of the customer service with vision, values and objectives. American Express’ chairman Kenneth Chennault has declared “we are delivering superior service”. I found that they are focusing on their relationship with millions of consumers, businesses and merchants worldwide. This marketing approach is lead by American Express’ information management. To drive and support American Express’ standards of customer care, they have defined what they are doing on their vision statement: “we work hard every day to make American Express the world’s most respected brand” Their statement is consolidated with their position in their market: they are the first card issuer worldwide, the premium network for high-spending card members and a processor of millions of transactions daily. American Express is followed by VISA and Master Card. American Express’ strategy statement is reinforced by their values to demonstrate that the company goes the extra mile to help their customers. They have linked values and objectives to convert their vision into reality. * “Customer Commitment. We develop relationships that make a positive difference in our customer’s lives. * Quality. We provide outstanding products and unsurpassed service that, together, deliver premium value to our customers. * Integrity. We uphold the highest standards of integrity in all of actions. * Teamwork. We work together, across boundaries, to meet the needs of our customers and to help the company win. * Respect for people. We value our people, encourage their development and reward their performance. * Good Citizenship. We are good citizens in the communities in which we live and work. * A Will to Win. We exhibit a strong will to win in the marketplace and in every aspect our business. * Personal Accountability. We are personally accountable for delivering on our commitments. To deliver satisfaction and make reality their statements they have three corporate objectives: * Offer superior value propositions to all our customers. We aim to provide products, services, benefits and rewards that deliver more value than any competitor. * Operate with best in class economics. We focus on managing our business as efficiently as possible to continually improve the quality of our service and invest in growth. * Support American Express brand. American Express has one of the world’s most trusted brands. It strives to always provide the world class service and personal recognition that their customers expect from them. American Express’ corporate objectives had divided their systems to satisfy their customers: * Card members’ customers are not liable for fraudulent purchases. In addition, American Express has sophisticated monitoring systems and controls in place to detect fraudulent activity and protect our Card members' accounts from misuse. If they discover activity on an account that they believe is suspicious, they will contact you. For travellers cheque and gift cheque fraud

* Travellers Cheques and Gift Cheques are safer than cash because they are reimbursable if lost or stolen. Although the vast majority of American Express Travellers Cheques...
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