When the belt-tightening economy
resulted in fewer people dining out, IHOP sought new revenue growth. The Valen
Group identified retail packaged breakfast foods as a potential diversification
and brand enhancing strategy. A lack of innovation in frozen breakfast coupled
with an overlooked opportunity gave IHOP the advantage.
How we did it
The Valen Group collaborated with
IHOP to research consumer needs, analyze the breakfast space, and lead the
conceptualization effort to identify high potential brand extension
opportunities. Developed a strategic roadmap for growth, identified licensing
partners, and worked with both Licensor and Licensees to get in front of
retailers to discuss innovation opportunities and go to market strategies.
generated a secure segment and jump started growth in this overlooked market,
meeting growth expectations. IHOP led the industry in launching a line-up of
breakfast sandwiches, IHOP at Home, in 3,000 Walmart stores. Gradually expanded
into other retail outlets and product forms such as syrup and continued to
innovate around product forms. Opportunity based upon category penetration
projections are to exceed $100 million in annual sales.