Analysis Of Uber Including Pricing Demand And Supply, Market And Strategy

UberStudent’s NameInstitutional AffiliationAuthor NoteUber The transport industry is one of the oldest industries in the world. However, the changing customer preference and technology have impacted the industry allowing complete transformation (Wang et al., 2018). More importantly, many companies have capitalized on this industry, and some have managed to be successful despite the many challenges present therein. One of these companies is Uber, which was started in 2009. The founders of Uber started the company to challenge the inefficient and inadequate city taxi service (Rosenblat & Stark, 2015). Also, the 2007 financial recession had affected the sector, and the unemployment rate was high; people needed additional employment, which Uber provided. The ride-sharing market was also rising in popularity as it was cheap, and individuals were looking for cheaper and safe ways to travel. Uber was well suited for this growth. This paper is critical as it analyzes Uber’s market before and after its entry. It applies the concept of game theory on Uber’s market and looks at the concepts of economies of scale and economies of scope in Uber’s business model.