Factors to Form Business Strategy for Online-Based Ride-Sharing Services

Abstract

In terms of social, economic, sustainability, and environmental challenges, ride-sharing services play a significant role in reducing traffic congestion and the number of automobiles on the road. The objective of this study is to investigate the important factors for the business of ride-sharing services. Also to understand how the ride-sharing companies’ software marketing strategies evolved especially amid the COVID- 19 pandemic to attract consumers and keep customer retention consistent. This research was done through a blended approach of quantitative and qualitative methods. Google forms have been used to collect data from respective stakeholders. In data analysis, Python has been used to extract statistical data and to evaluate variables that played a vital role in customers’ and companies’ perspectives. In this survey research, 108 responses have been received from consumers and 4 responses from companies. Collected survey data shows that safety issue was the most critical factor during the pandemic while avoiding traffic jams before the pandemic. Promotional marketing such as offering discounts on special hours plays a vital role to attract customers. Emergency contact alert, live location sharing, better quality helmets, and ride-sharing with multiple people these facilities have been demanded by the survey respondents. Customers showed a positive perception regarding extra services provided by ride-sharing companies during COVID-19. The results of this study discovered improvement factors that can be used to make business strategies for ride-sharing companies. This study will also help marketing strategists to get a better understanding of their shortcomings and have a scope for a more detailed investigation further in the future.