Cadillac Essay, Research Paper
Now that we have looked at the Cadillac Escalade?s environment and target markets, lets look at the marketing mix to show what cadillac does to influence the demand of the Escalade.
A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. A product that is broadly defined includes physical objects and services.
A. Product Classification
A consumer product is a product bought by final consumer for personnel consumption. The Cadillac Escalade is a consumer product that is classified as both a specialty and shopping consumer product. A specialty consumer product is a type of product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. The Escalade is a specialty product for some because buyers are usaully willing to travel, pay expensive prices, and make other special efforts to purchase the specific brand. The escalade has a strong brand name that some people are loyal to. A shopping consumer product is a type of product that is less frequently purchased and consumer compares carefully on suitability , quality, price, and style.( See appendix ) . When consumers purchase the Escalade, the consumers compare the quality, price, and different styles of the Escalade with it competitor such as Lincoln Navigator, Ford Explorer, or Lexus Jeep in order to determine which vehicle to purchase. Although the Cadillac Escalade is very expensive, the vehicle offers exceptional quality and the latest technological advances that gives it the edge over its competition.
B. Individual Product Decisions
This deals with the important decisions in the development and marketing of individual products. These decisions can be divided into products attributes, branding, and product-support sevices.
1. Product Attributes
Developing a product involves defining the benefits that it will offer. These benefits are communicate and deliver by product attributes such as quality, features, and design.
1.Product quality is the ability of a product to perform its functions; it?s the product?s overall durability, reliability, percision, ease of operation and repair, and other valued attributes. In the early 80?s, Cadillac was plagued by poor quality and reliability (6). Since then Cadillac has dedicated themselves to producing vehicles with high quality and reliability along with dependability.
2. The Cadillac Escalade offers a wide selection of product features. The Cadillac Escalade comes with many standards and individually available options. (see appendix ).