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Swot Analysis Of Lyft

Good Essays

The use of ride-sharing applications has become a popular choice to travel from one destination to another. In the past, cities were dominated by the use of taxis as a means of ride choice. As technology and society has evolved, ride-share applications such as Lyft have become a dominating choice for travel. After completing a PEST and SWOT analysis, Lyft can analyze how to proceed going forward to continue its growth and success.
Lyft’s Background Lyft, Inc., formally known as Zimride, is a ridesharing and transportation company that is smartphone application base, meaning users will elect to download the app on their phones and request rides based upon their location (Bloomberg, 2017). Drivers are then matched with users who request a ride or rides can be scheduled up to a week in advance. Payment is processed through the phone application itself. The company is based in San Francisco, California. The marketing target of Lyft is typically university or college communities as well as corporate communities.
PEST Analysis
Political-Legal
As of March 21, 2017, new regulations were placed on transportation networking companies like Lyft and Uber that require the companies follow the same rules and regulations that are placed on taxis. The companies are now required to annually register with the state of Michigan and pay a fee per-vehicle (MLive, 2017). Furthermore, annual vehicle inspections by mechanics and conducted background checks of drivers must be done. While Michigan

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