Profits at a small chain of women's clothing stores have declined over the last four years

Profits at a small chain of women's clothing stores have declined over the last four years. The stores have been characterized as being rather conservative and have consistently avoided trendy clothes. Competition has become intense and aggressive because several fashion stores are expanding by targeting the young, fashion conscious shopper.The president is considering making the product line appear less conservative and more oriented toward the young buyer. Before making such a risky change, the president thinks it is prudent to conduct some marketing research to learn the exact status of his chain.What should be the research purpose and the research objectives?