Restaurant these
days are offering in a different way rather than the convenient one that they
used to offer. Most of the restaurant now having two types of menu either you
order from there predefined menu card or you go for the buffet they have
included in their menu.
This buffet option is newly introduced and
it was not that much popular before. Now this buffet option became popular in a huge
margin. From the people point of view those who are customer they are looking on the unlimited availability of the food and it is pretty much pleasing for
people.
But those restaurant companies have found
the tricks which somehow please the customer and increase their revenue also. They
are successfully applying the concept of diminishing of marginal utility. The
more a consumer consume the utility derived from the particular product
diminishes. Here same happens when there is a buffet menu consumer are thinking
of consuming each and every items to a great extent but once he started
consuming the utility derived diminishes and the consumer ended up with lot
less than what he thinks.
Therefore, restaurants are pricing those
buffet at that competitively as the consumer get satisfaction as well as the
restaurant also get benefit over it.
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