A vehicle manufacturing company observes the demand for its brand is decreasing. The company knows the demand for its product is linked with per capita income, interest rates, inflation rate and other macroeconomic factors. Further, buyer purchase behavior can be linked with age, gender, education and other demographic factors as well as competitor's advertising tactics, dealer discounts and other marketing strategies.

Required:

Suppose the manufacturer hired you as a research consultant to resolve the company's problems, explain how you would conduct the research as follows:

1. Define the research problem
2. Identification of the main and specific objectives
3. Definition of the dependent, independent and extraneous variables
4. Explanation of the research design, data collection and analysis
5. A summary of the findings