In these not-so-great economic times we are in, IHOP has been able to stay steady by offering great promotions. When school started back up, IHOP announced that "Kids eat free" for the entire month of August (certain conditions apply of course). Although this may seem like a crazy idea, this is a great way to keep IHOP on everyone's minds when back-to-school-spending occurs. They hope that word-of-mouth will create enough business to cover the costs of the promotion.
Last year, IHOP offered "All you can eat pancakes", also known as the "2009 Hungry Consumer Relief Plan." This marketing tactic drew in more consumers who could relate to the unstable economic conditions.
In these economic conditions, more people are not getting out to the restaurants when they can save money by cooking at home. However, IHOP keeps people coming back for more by offering great promotions.
IHOP has a distinctive competence in creating innovative pancakes. There are a flurry to choose from. No other restaurant can compare to what IHOP brings with pancakes.
In the "All you can eat pancakes", was it one price and then all you can eat? I assume so as most restaurants use that approach. I'm curious to know what your thoughts are as far as your personal choice of eating out or eating in, due to the financial conditions. Let me know!
ReplyDeleteI love the kids eat free Ihop commercial. It is also a great way to get people to eat out despite economic conditions. On the new yesterday, Michelle Obama said that 1 in very 3 meals are eaten out.
ReplyDeleteBrittnie:
ReplyDeleteYes, you paid one price, and then they kept bringing as much as you can handle...As of now, I am a fan of staying home. It is so much more inexpensive. With a tight budget, it's the wise thing to do, however, going out every once in a while makes for a pleasant change.