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MKTG 2201 Market Segmentation/Product Homework

Cadillac offers a very diverse business portfolio that targets a variety of people within the luxury class car market. Since the cheapest model of the five investigated starts at $33,000, buyers need to have a decent amount of money to spend in order to purchase a car of this quality.
The ATS is a relatively inexpensive sporty model. It seems to target a certain demographic. It is not really a family oriented car so it appears to be targeted towards mid-income younger individuals or couples needing a car. The ATS appeals to a survivor/experiencers psychographic profile, since it’s an American made, fast, sleek car. ATS purchasers want to fly down back roads and really feel the car perform. Its behavior segmentation targets those who want a real experience while driving; they want to take chances and carve a path while driving. For this reason, the qualities of the ATS outlined on the website target this segment. The ATS is “built to take on the world,” with a lighter chassis, better acceleration and handling, with a great BOSE sound system as well. Cadillac ATS commercials feature young individuals tearing through rough environments, which really help display its target market.
The XTS is the all-around car. It has a fantastic sound system, great braking system, and ultimate performance with comfort. I believe this car is aimed towards older (early 30s-early 40s), wealthy yet still single/just married demographic as it seems to be more of a personal than family oriented car. I believe a businessman/woman who is looking to further their carrier and appear professional would like this car. It also goes for about $10,000 more than the ATS. This appears to be aimed at strivers/believers psychographic profile, since it offers luxury and performance coupled with a well-known brand name. The person who would be driving this car would be looking to get ahead and improve their career, as the XTS is a solid mid rage model. A person who bought this model would be a laid-back, professional individual, since this car is aimed towards those who need to do a lot of driving but need both comfort and performance. As such, the car has a great braking system for safety, but many luxurious details such as spacious and relaxing interior and a noise cancellation sound system.
The CTS on the other hand appears to be the most customizable of the bunch. Overall, however, there is a dedication to performance. The CTS is described as an “impressive balance of performance and styling,” along with “complete package of performance, styling and capability achieved through the 556 HP V8 engine, the aggressive styling of its aerodynamic physique and the constant traction of revolutionary dual-mode Magnetic Ride Control.” The target market for a car like this would be a younger crowd, probably mid-twenties to early thirties who have a well-paying job and want a real experience driving while still being able to customize their own car based upon certain specifications. It much sleeker design than the ATS and XTS, and offers many varieties such a coupe, v-coupe, sedan, sport sedan, and wagon. This helps broaden the range of the market, as an individual who wanted to both start raise a family yet wanted a fun driving experience would opt for a wagon while a single thrill-seeker might go for the v-coupe version. The psychographic profile would probably be innovators and achievers, since this market wants specific needs met through customization. This market probably behaves a bit recklessly, looking to seek thrills and take chances but are still concerned with safety and other technological features. They still want a thrill when they drive, but need to start considering luxury as well.
The SRX seems more of a family-oriented car, with spacious seating for five. Since it is relatively expensive, it targets middle to upper class small families. Families want safety first for their children, and the SRX has an increased amount of safety features that are outlined on the Cadillac Website such as auto dry brakes. There is noise cancellation features and rear seat entertainment for long rides with the family, spacious seating and lots of storage space. This car would definitely target achievers and believers in the psychographic profile because they will have a large dedication to family and caring for their loved ones, and the safety and family features would help to influence a purchase. A person who buys this type of car probably isn’t very reckless and is settling into their mid to late careers and lives and wants a safe, reliable car to reflect that.
The Escalade is probably the most well-known car of the Cadillac company. It is known for luxury and performance, and a purchaser of an Escalade knows that (as described in commercials) the escalade is “the leader in the luxury SUV business. With a lot of seating (seats 8 comfortably) this car is aimed towards those who have large families but do not want to sacrifice comfort. Escalades are very expensive, so the purchaser also has to be very wealthy in order to afford one. This targets women who need to drive their kids to and from school, sports...etc. on the weekdays and takes long trips every now and then when driving is needed. This would also be an achievers and believers psychographic profile because family will come first but also needs to display class, prestige and wealth as well. The people buying an Escalade are older individuals who probably travel a lot and are always running their children to and from places and do a lot of driving daily, most likely suburban moms. In the escalade commercials a woman is shown driving remarking on the spacious seats, great navigation system and many cup-holders, exactly the target market profiled on their website.…...

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