Why change Jacobs name?

Genesis 35:10 says, “And God said unto him, Thy name is Jacob: thy name shall not be called any more Jacob, but Israel shall be thy name: and he called his name Israel.”  What purpose does changing peoples names have?  He also changes Abraham’s name.  Couldn’t an all-powerful being influence your name at the point of your parent’s choice?  That would cut out the problem of having to remember who you are later.  The name change does nothing in the story except show how god likes to push people around.  I can just hear god saying; hmmmmm, let’s jerk Jacob around again and change his name from Isreal to Chaz, no Egbert.  That’s it.  Egbert.