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The taxi industry has become a diversified and attractive place for new companies to come and invest in order to facilitate customers. 17 Minutes Only While starting their business, one of the crucial decisions is to determine the pricing strategy that they should adopt. The strategy has to be effective for the company and customers so that both can derive benefits and mutually work for the betterment of the industry.
For some taxi companies, this decision is quite difficult to make because the competitors are already having strong position in the industry and they have to find out how they are charging their services. This way, they will be in a better position to set their price, without compromising over the quality. Even, there are some companies that charge low but offer low quality that leave customers with dissatisfaction of making the wrong decision. Sometimes, pricing strategy does not turn out to be in way the taxi companies want. Here are the reasons why: