Evaluate the statements according to Aaker model of defining brand identity/equity : 

Statement I : A particularly important concept for building brand equity is brand identity that represents what the brand stands for and promises to customers. 

Statement II : The core identity is most likely to change as the brand travels to new markets and products. 

Which of the following options is correct?

1
Both the statements are correct
2
Both the statements are incorrect
3
Statement (I) is correct while Statement (II) is incorrect
4
Statement (I) is incorrect while Statement (II) is correct

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