CHAPTER 1

1.1 INTRODUCTION
1.1 INTRODUCTION:

In an era marked by rapid urbanization and the ever-increasing demand for

efficient transportation services, the taxi industry stands as a crucial player in
catering to the diverse needs of a bustling city like Chennai. Fast Track Cabs, a
prominent player in the transportation sector, has embarked on a journey to not
only comprehend the dynamics of its competitive landscape but also to
strategically position itself in the market for optimal growth. This research project
delves into the comprehensive analysis of competitors and aims to formulate a
strategic market position that aligns with the unique demands and preferences of
the Chennai city populace.

1.2 OBJECTIVES OF THE STUDY:

Primary Objective: -
The primary objective is to analyze competitors and define a strategic market
position for Fast Track Cabs in Chennai city

Secondary Objectives: -
 To Understand what customers want to improve in Fast Track Cab’s
services
 To Study competitors and market trends to suggest practical improvements
for Fast Track Cab’s growth

1.3 AREA OF STUDY:

Area of study deals with MARKETING

1.4 METHODOLOGY: -

Research type: Descriptive Research Method

Descriptive research is a type of research that is used to describe the
characteristics of a Population. It collects data that are used to answer a wide
range of what, when, and how Questions pertaining to a particular population or
group.

 Sample size: 50
 Sampling method: Simple Random Sampling

Simple random sampling is defined as a sampling technique where every item in

the population Has an even chance and likelihood of being selected in the sample .

 Data Collection:
A. Primary Data: Questionnaire
B. Secondary Data: Research articles, Journals, Internet and Media

A questionnaire is a structured set of questions or prompts used to collect

information from individuals for research or survey purposes. It is designed to
gather standardized data and can be administered through various formats such
as paper-based or online surveys. The goal is to systematically collect information
to analyse and draw conclusions about a specific subject or issue.

1.8 LIMITATIONS OF THE STUDY

 Respondents might provide answers they think are socially acceptable or

expected, leading to biased or inaccurate responses. This bias can affect the
reliability of the data.
 Ambiguous or poorly worded questions can be interpreted differently by
respondents, resulting in inconsistent or unclear responses. This can
compromise the quality of the collected data.
 Questionnaires lack the opportunity for researchers to clarify questions or
provide additional information, potentially leading to misunderstandings
or incomplete responses.
 Online questionnaires, in particular, may face technical problems such as
website glitches, poor internet connectivity, or compatibility issues,
affecting the completion and accuracy of responses.