The ride control switch hardens the throttle so that the effort taken to wring the throttle increases after the throttle has been wrung to a specific limit. Technically, it's just a marketing gimmick but realistically speaking, some people may not wring the throttle more and more when the throttle starts to offer resistance, thereby aiding fuel efficiency.
In suzuki GS 150R, there is no switch, but a ecnomy/power/ordinary mode in the meter console. This cannot be changed while riding. we need to stop the vehicle to change the mode. In manual it says that it is done by changing the mapping of CDI unit. In economy mode while crossing 5k rpm mark one white light start to blink and once crosses 8k, light will glow continuously.in power mode light start to blink at 8k only. Except 5KM/ltr reduction in power mode there is no difference we can feel. once i ride at120km/hr in economy mode. Didnt feel any difference.