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Essay / Research Paper Abstract
A 4 page paper discussing current conditions at this restaurant operating company; examining economic indicators; and discussing the relative value of economic indicators for business planning. Bob Evans operates in the pure competition market structure, and as such, has the ability to affect only itself and its own results. The paper concludes that economic forecasts can provide a “best guess” for future conditions, but as no one knows precisely what the future holds, they cannot be expected to be totally accurate. Bob Evans’ best course of action is to turn its attention to product, price and promotion, three of the 4 Ps of marketing. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: CC6_KSeconBobEvans.rtf
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Unformatted sample text from the term paper:
Ohio, Bob Evans Farms, Inc. operates 560 family-style Bob Evans restaurants, produces and sells a full range of pork products and operates the 80-location Mimis Caf?, acquired in 2004.
The company ranks 20th in market capitalization in its industry in which 88 restaurant chains operate. The structure of its market is that of pure competition, defined as consisting
of a large number of firms with a large number of customers in which individual businesses have no control over the prices of any business but their own. Products
are common and easily obtainable from other competitors, and entry is easy. The purpose here is to assess Bob Evans likely future in light of predicted economic conditions during
the next two years. Ability to Affect its Market Bob Evans Farms primary business consists of its 560 Bob Evans Restaurants. Placing
20th in its industry in terms of market capitalization, it operates in the same industry as the leader McDonalds (more than 30,000 restaurants) and Yum! Brands compilation of names such
as Pizza Hut and Taco Bell (more than 33,000 restaurants total). Add only Burger King and Wendys, rejecting all others operating in the industry, and the inability of Bob
Evans 560 locations to greatly affect its industry is clear. The only route available to the company in improving the performance of its restaurants is to improve the performance
its restaurants, and in ways clearly obvious to the customer. This may include altering menus, improving quality, increasing prices, decreasing prices, or merely promoting the business more effectively.
At any rate, the nature of Bob Evans market structure is such that only Bob Evans can truly affect its business results. The
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