Carmex's first efforts in marketing research had the research objective of figuring out who it was as a company and what the Carmex name means. In the first stage of the marketing research approach, , the research objective is set.

1. defining the problem
2. developing findings
3. taking marketing actions
4. collecting relevant information
5. developing the research plan

The correct answer is 1. defining the problem .

Explanation:

Although every step in a market research project is important, defining the problem is the most important of all. For market research purposes, the terms problems and opportunities are handled interchangeably. The definition of the problem implies starting with the general terms of the problem, to then identify its specific components. Only when the market research problem was clearly defined, could the research be designed and carried out. Of all the tasks in a market research project, none is more vital than the detailed definition of the research problem, as this will allow us to fully meet the needs of the client.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.