It seems there was a clash between Tomcat and another application which was using port 8080, which happens to be the default Tomcat port. Here is how I went about it:

Steps of changing the Tomcat Port

1) Locate server.xml in <Tomcat installation folder>\ conf \

2) Find the statement similar to this.

<!-- Define a non-SSL HTTP/1.1 Connector on port 8180 -->
<Connector port="8080" maxHttpHeaderSize="8192"
maxThreads="150" minSpareThreads="25" maxSpareThreads="75"
enableLookups="false" redirectPort="8443" acceptCount="100"
connectionTimeout="20000" disableUploadTimeout="true" />

or

<!-- A "Connector" represents an endpoint by which requests are received
and responses are returned. Documentation at :
Java HTTP Connector: /docs/config/http.html (blocking & non-blocking)
Java AJP  Connector: /docs/config/ajp.html
APR (HTTP/AJP) Connector: /docs/apr.html
Define a non-SSL HTTP/1.1 Connector on port 8080-->
<Connector port="8080" protocol="HTTP/1.1"
connectionTimeout="20000"
redirectPort="8443" />

3) About Tomcat’s server.xml file cites it’s runs on port 8080. Change the Connector port=”8080″ port to any other port number.

For example

<Connector port="42211" protocol="HTTP/1.1"
connectionTimeout="20000"
redirectPort="8443" />

will instruct Tomcat to run itself on port 42211. The address will then change to

http://localhost:42211/foo

4) Save the server.xml file and restart Tomcat. It should start on the port you mentioned.