Pepperdine Graziadio Assistant Professor Stephen Rapier Shares Credit Card Insights on WalletHub
Comparing credit cards can be a daunting task for consumers, especially because no credit card is a one-size-fits-all. In a recent WalletHub post, Stephen Rapier shared his thoughts on the consumer’s perception of the American Express brand, and what risk considerations the brand should examine before making any big moves in an effort to cater to new customers. “As brands seek to either expand into new markets as a growth strategy or to respond to a diminishing share of their current market, there may be a tendency of some brands, such as American Express, to stretch too far to make it happen. In other words, to reach a certain goal, some brands tend to subvert their core brand values that previously propelled their success in the pursuit of new ones that ultimately may erode their worth to their current customers.” Rapier shares. Instead, he suggests brands gauge their perceptions of a move before making an impulse decision.
For American Express, specifically, Rapier warns against becoming complacent given the company’s historical success. Instead, he suggests the brand, and others like it, continuously survey their customers and constantly seek innovative ways to improve product and service enhancements.
The full post is available at WalletHub.