Simple 5 steps to change the context
Step1: Rename the folder ROOT dir to yours own context name(Example: liferay)
Step2: Rename file ROOT.xml to liferay.xml in %LIFERAY-HOME%\conf\Catalina\localhost
Step3: Create empty Directory/Folder ROOT in %LIFERAY-HOME%\webapps\
Step4:
Original Code
<Context path="" crossContext="true">
......
....................
</Context>
Modified Code
<Context path="/liferay" crossContext="true">
......
....................
</Context>
Step5: Create file portal-ext.properties in %LIFERAY-HOME%\webapps\liferay\WEB_INF\classes\
copy paste the below code
portal.ctx=/liferay