Given below are two statements:
Statement I: If there are differences in consumers’ responses, brand-name. product is essentially a commodity and competition will probably be based on price.
Statement II: Brand equity is reflected in perceptions, performance and behaviour related to all aspects of the marketing of a brand.
In light of the above statements, choose the most appropriate answer from the options given below
1
Both Statement I and Statement II are correct
2
Both Statement I and Statement II are incorrect
3
Statement I is correct but Statement II is incorrect
4
Statement I is incorrect but Statement II is correct