While the food service industry is expanding both in size and quality, buffet restaurants have served as the biggest source of revenue for hotels amongst all types of food and beverage services. However, buffet restaurants are now struggling due to th...
While the food service industry is expanding both in size and quality, buffet restaurants have served as the biggest source of revenue for hotels amongst all types of food and beverage services. However, buffet restaurants are now struggling due to the pressure of rising costs and overhead expenses as well as changes in the dining culture. In this context, this study examines the perceived effectiveness of the message of price information and the implications it has on the price perception of customers, thus discovering insights to reduce customers' resistance of price. Questionnaires were conducted on hotel buffet restaurant customers on their way out after a meal on their consent and was conducted on five categories; analysis of effectveness of price information message Analysis of Covariance for the effectiveness analysis of message of price information, effectiveness analysis of economic factors in relation to the price perception of the hotel buffet restaurant, effectiveness analysis of behavioral psychological factors in relation to the price perception of the hotel buffet restaurant, and the effectiveness analysis of demographic factors resulting in relation to the price perception of hotel buffet restaurants. The items on the questionnaire were composed according to the 5-point likert-type criteria.
In the effectiveness analysis of the message of price information, the type Ⅳ message,'a cheaper price compared with other hotels', was found to be the most effective which was followed by 'the buffet restaurant's contributions to society', 'the justifiable price hikes resulting from cost increases (type Ⅴ)'and 'the development of new items on the menu and improved quality of food(type Ⅱ)'.
Through the Analysis of Covariant for the effectiveness analysis of message of price information, 'the value of the paid amount' and 'the loyalty towards the hotel buffet restaurant' showed a significant relation, implying that they had an affect as covariant factors. According to the effectiveness analysis of economic factors resulting from the price perception of the restaurant, respondents perceived the price to be low if they felt a high value of the restaurant. Also, those who gave high reservation prices also perceived the restaurant prices to be low. It was also found that the price level played an important role in deciding where or not to dine at the hotel buffet restaurant. In addition, respondents with hotel membership perceived the prices to be lower.
In the effectiveness analysis of behavioral psychological factors resulting from the price perception of the hotel buffet restaurant, the study found that respondents with higher loyalty towards the buffet restaurant perceived the prices to be low. This was also the case for those who felt that dining in the restaurant was beneficial and enjoyable. The analysis of demographic factors found that customers in the lower age brackets perceived the prices to be low as well as those who were married. In conclusion, types Ⅳ and Ⅵ of the message of price information were found to be the highest. Result of ANCOVA showed that 'the value of the paid amount' and 'the loyalty towards the hotel buffet restaurant' showed a significant relation, implying that they had an affect as covariant factors. The analysis of economic factors found that the perceived price was lower amongst customers who felt a higher level of perceived value of the hotel buffet restaurant and who responded with high reservation prices. Also, the price level was found to be important in deciding whether to dine at the restaurant. Hotel membership holders perceived the prices to be low. Moreover, the analysis of demographic variables showed that the age and marital status of the customer played a role in a perception of low prices at a hotel buffet restaurant.