The reaction sequence starts with toluene (methylbenzene).
Step (i) KMnO$_4$ / KOH and Step (ii) H$_3$O$^+$, $\Delta$:
KMnO$_4$ (potassium permanganate) in the presence of KOH (alkaline medium), followed by acidic workup (H$_3$O$^+$) and heating ($\Delta$), is a strong oxidizing agent for alkyl side chains on an aromatic ring.
The methyl group (-CH$_3$) of toluene will be oxidized to a carboxylic acid group (-COOH).
Regardless of the length of the alkyl side chain (as long as it has at least one benzylic hydrogen), it is oxidized to -COOH.
So, toluene (C$_6$H$_5$-CH$_3$) is converted to benzoic acid (C$_6$H$_5$-COOH).
The product after steps (i) and (ii) is benzoic acid.
Step (iii) Br$_2$ / FeBr$_3$:
This is an electrophilic aromatic substitution reaction: bromination of the benzene ring.
FeBr$_3$ acts as a Lewis acid catalyst, polarizing Br$_2$ to generate the electrophile (Br$^+$ equivalent).
The substituent already present on the benzene ring (-COOH in benzoic acid) directs the incoming electrophile (Br).
The -COOH group (carboxylic acid) is an electron-withdrawing group and a meta-directing group for electrophilic aromatic substitution.
It deactivates the ring, but substitution occurs primarily at the meta position relative to the -COOH group.
So, bromination of benzoic acid will yield 3-bromobenzoic acid (or m-bromobenzoic acid).
Structure of 3-bromobenzoic acid: The -COOH is at position 1. The Br is at position 3.
This matches option (a).
\[ \boxed{\text{3-Bromobenzoic acid}} \]