Question

Discuss each element of the marketing mix for American Express.

Answer 1

American express has 7Ps in its marketing mix:-

1. Product:-

American express has many varieties of products and they ensure that their customers are happy with their products. They have gift cards, international and national cards, travellers cheque, insurance and financial services.

2. Price:-

American express make sure that prices which customers pay for its services are worthy of it too. Hence, customers stick with American Express even though its services are expensive as compared to competitors.

3. Place:-

American express strive to make its products available across the globe so that their customers can take them without the worry if they will be useful abroad or not.

4.Promotion:-

American express believes in making their services so efficient and trustworthy that they get promotion from word of mouth from their existing customers.

5. Process:-

American Express is controlled from its headquarters and it is mandatory to follow set of rules and regulations which are standard without compromise. Customers are given ease of services like ATM's and online banking services so that least amount of human interaction is there.

6. People:-

American Express believes in serving the customers, management, employees, workers etc in best possible manner.

7.Physical Evidence:-

American express believes in adhering to physical presence by providing diaries and pens to employees, passbooks and checkbooks to clients etc.

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