The preferences of customers are rapidly changing with the changes in trends. Similar situation is also faced by restaurant sector which forces them to stay in the process of adaptation in relation with the changes in customers’ demands... more
The preferences of customers are rapidly changing with the changes in trends. Similar situation is also faced by restaurant sector which forces them to stay in the process of adaptation in relation with the changes in customers’ demands and needs. Some of the challenges which the restaurant sector is facing are; customers’ preferences over healthier food, advancement in technology over delivery of food and dining experience, new entrants, environmental sustainability, marketing strategies, heightened expectations of customers and food processing methods. The businesses can cope up with these challenges through innovation, which is a tool that can provide competitive advantage in order to survive in the rapidly changing and cutthroat environment. This report will elaborate the notions "Innovation" and "Commercialization" in depth which can be beneficial for entrepreneurs to boost their businesses.
