Ok, so IHOP has been in existence since 1958. Why would they change their name now? Maybe it's due to a decline in their stocks? Meaning that they aren't making the money that they would like to make. Meaning they aren't getting enough customers to buy their food as they would want. I take a look at the stocks for the past five years and from 2015 to mid 2017 the restaurant brand has been on a decline tremendously, dropping from 106.75 per share to 39.56 a share. That means that IHOP is struggling with making money and they need a new way to bring in some "doe"! They are currently sitting at 76.04 per share, which means they have been bringing in some money, more than previously, and I'm sure they're trying to get their share price back up to 106.75. If IHOP wants to stay in business, they better do something, and do something fast before people lose hope.
Well, I guess they have decided to do something about their stock to keep it on an incline. "How about changing our name from IHOP to IHOB, this will get the people's attention, because we not only have great tasting pancakes, but we have great tasting hamburgers as well. And, for the customers that only come for our pancakes, we can convince them that our hamburgers are just as good and also bring in a new hamburger crowd in the process". Brilliant marketing strategy, but will changing your name from IHOP to IHOB really make a difference?
Statistics After IHOB Promotion
According to a statistic, the new marketing strategy only saw an increase in male customers at 4.6 percent while showing a decrease in females by 2.2 percent. As burgers [meat in general] is more enjoyed by men, as it supposedly symbolizes, "Manhood" and "Power", I can see why more males would be drawn to the name change. This makes you think. If IHOP male customers were the lack that needed an increase, is that 4.4 increase more valuable than the 2.2 decrease in females. In order to know for sure, we would have to know the male to female customer ratio. But hey, we do not have that information, so, in this article, we will not know that question for sure. But, IHOP will figure out a way to bring in more female customers, I'm sure. Maybe they will put a new "Wonder woman" burger on the menu!
What Burgers are currently on the "IHOB" Menu?
1) Big Brunch
2) Cowboy BBQ
3) Mushroom & Swiss
4) Jalapeno Kick
5) The Classic
6) The Classic With Bacon
7) Mega Monster
Seems like all macho type burgers to me! Maybe the Mushroom and Swiss and the Classic burger (with and without bacon) sounds more feminine but that's just 3 out of the seven, which means the majority of IHOB’s burgers with macho burger names wins. I'm sure if IHOP's name is changed to IHOB more hamburger selections will be available.
In Conclusion
But, to clear up your thoughts on the IHOP to IHOB name change, it's just for marketing purposes at this time. Just a way to drive in more foot traffic. As it has only drove in more male customers, it would have to do some adjustments to drive in more female customers. Not sure if they'd actually change their actually store front sign to IHOB officially, but if their stocks can possibly get back up to 106.75 as a result, you better believe they'd make the change in a heart beat.
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