The terms \( a, \frac{3}{4} a r^2, a r^3 \) form a geometric progression (G.P.). In a G.P., the ratio of consecutive terms is constant. Therefore, we can write:
\[
\frac{\frac{3}{4} a r^2}{a} = \frac{a r^3}{\frac{3}{4} a r^2}
\]
Simplifying both sides:
\[
\frac{3}{4} r^2 = \frac{4}{r}
\]
This leads to:
\[
r^3 = \frac{4}{3}
\]
Taking the cube root of both sides:
\[
r = \frac{4^{1/3}}{3^{1/3}}
\]
We are also given that the product of the first four terms is:
\[
a \cdot \frac{3}{4} a r^2 \cdot a r^3 \cdot a r^4 = \frac{3^6}{4^3}
\]
Solving this equation will lead us to find \( a = \frac{3}{4} \).