Marketing ExcellenceAmerican Express Essay Example | Topics and Well Written Essays - 750 words

Marketing ExcellenceAmerican Express - Essay Example Diversification and expansion of services offered- in the 1980s, American Express expanded into a variety of financial categories, which included brokerage services, banking and insurance and acquired companies such as Lehman Brothers Kuhn Loeb Inc, and E.F Hutton & Co. American Express has also been able to position itself against competition by forging and riding on partnerships by increasing the number of merchants that accepted its cards adding Walmart and developed new card offerings, including co-branded cards. American Express has also been able to partner with numerous banks such MBNA, Citigroup, UBS, and USAA. American Express has changed over time from its initial traditional business of â€Å"Travelers cheques†, in the 19th century, to charge cards in the 1960s, to a variety of financial services which include brokerage services, banking and insurance in the 1980s, to revolutionary credit cards in the 21st century and presently a variety of different personal cards as well as small business and corporate cards. 2. American Express has been able to integrate its business by expanding in other different businesses such as financial services, brokerage and insurance, in 1980s; American Express acquired a number of other companies such as Lehman Brothers Kuhn Loeb Inc and E.F Hutton & Co. The company has also increased its client base by increasing the number of merchants who accept their cards such as Walmart and developing new card offerings, including cards that are co-branded. American Express further integrated its business in mid-1990s when it re-branded its Small Business Services division as â€Å"OPEN: The Small Business Network†, thus increasing benefits such as flexible payments as well as special offers, partnerships, and resources for small businesses. American Express wanted to reach out to small business owners who primarily are different from people who work for big