In the 19th century, automobiles were created to replace the use of horses all over the world. In the 20th century, the biggest achievement in the transportation sector is the substitution of traditional or old model taxi services into a modern ride-share system through user-friendly applications. In addition, ride-sharing companies solved the world’s transportation problems and provide affordable and safe service 24/7 in the same fashion as cab. The most popular ride-share companies around the world are Uber, Lyft, Sidecar, Via, Curb and Ztrip. The above mentioned ride-share companies took over the transportation industry which was monopolized by taxi cab. The ride-share company encompasses from young to the older adults by providing user
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They have experienced drivers on the roads which they know how to use short cut routes and provide fast service to meet the customers demand. Taxi medallion owners and some taxi drivers focus on lobbying and lawsuit against the ride-hailing companies instead of asking themselves why they lost their customers. Lobbying and law suit is unnecessary at this time because the ride share companies proved their service to the consumer and they got acceptance worldwide. The only solution to the recap of the taxi business will be renovation to their old system if they work hard to improve the customer service strategy and adopting the new technology to their business will help to bring their customers back. “On our market sizing analysis, ride hailing is set to overtake and ultimately eclipse taxi markets (Goldman Sachs).” There are high competitions in the current market but the fittest will survive and the taxi industry will not willing to improve their old fashion service, they might be out market recently. Taxi industry are still in old model fashion but the ride sharing companies moving very fast and they are working different project for example, food delivering, grocery delivering, providing pool service which is more cheaper than regular ride share …show more content…
They move forward to the next level of self-driving car implementation while taxi industry still sitting and complaining about the business. The taxi companies should have to wake up and open their eyes and look for better opportunities to survive in the current fast paced market. The taxi industry should have to focus on the renovation than lobbying or lawsuit against the ride hailing companies. If the taxi industry wants to retain the previous customer and business, they need to work hard in improving the customer service and adopt the new technology. There is still a big chance to kick out the ride-hailing companies from the market. The ride hailing consumers does not like the fact that the ride sharing companies use their personal information. Finally, consumers are very comfortable with the new application or technology then taxi companies need to develop the application to attract old or new consumer to their business. They need to do a research about how the current ride-hailing companies take over their monopolized business and provide fast response with the all the change including how to provide promotion to the customer to allure the current
They have experienced drivers on the roads which they know how to use short cut routes and provide fast service to meet the customers demand. Taxi medallion owners and some taxi drivers focus on lobbying and lawsuit against the ride-hailing companies instead of asking themselves why they lost their customers. Lobbying and law suit is unnecessary at this time because the ride share companies proved their service to the consumer and they got acceptance worldwide. The only solution to the recap of the taxi business will be renovation to their old system if they work hard to improve the customer service strategy and adopting the new technology to their business will help to bring their customers back. “On our market sizing analysis, ride hailing is set to overtake and ultimately eclipse taxi markets (Goldman Sachs).” There are high competitions in the current market but the fittest will survive and the taxi industry will not willing to improve their old fashion service, they might be out market recently. Taxi industry are still in old model fashion but the ride sharing companies moving very fast and they are working different project for example, food delivering, grocery delivering, providing pool service which is more cheaper than regular ride share …show more content…
They move forward to the next level of self-driving car implementation while taxi industry still sitting and complaining about the business. The taxi companies should have to wake up and open their eyes and look for better opportunities to survive in the current fast paced market. The taxi industry should have to focus on the renovation than lobbying or lawsuit against the ride hailing companies. If the taxi industry wants to retain the previous customer and business, they need to work hard in improving the customer service and adopt the new technology. There is still a big chance to kick out the ride-hailing companies from the market. The ride hailing consumers does not like the fact that the ride sharing companies use their personal information. Finally, consumers are very comfortable with the new application or technology then taxi companies need to develop the application to attract old or new consumer to their business. They need to do a research about how the current ride-hailing companies take over their monopolized business and provide fast response with the all the change including how to provide promotion to the customer to allure the current