Marketing reserch

Potential Income of Target Market for Cadillac SRX Cadillac SRX is a luxury SUV of mid-size and is manufactured by the General Motors since 2004. Ithas been the best selling model of General Motors since 2010 and is being consistently ranked as top car in the country. It is a cross-over vehicle therefore its overall utility for the end users is relatively high as compared to other vehicles of same quality or range.
The latest prices of Cadillac SRX is in the range of $50, 000 per vehicle indicating that the car is made for the high end consumers who are willing to use luxury cars as well as the associated prestige with driving such cars. Considering the overall prestige and luxury attached with the vehicles, the target market for the car and that of Cadillac range needs to be fit into larger income group. Apart from this, the age group is also an important indicator which can highlight as to what kind of income is required for this.
The average income of the consumers who prefer to buy Cadillac models ranges from $150, 000 approximately. However, the median income of the target market also goes up to $ 178, 000 suggesting that the target market is relatively rich in income. The new focus of the company is on having young but richer customers who are willing to drive luxury cars while at the same time can also afford to buy such cars either through financing or through outright purchase of the cars. 1