Serge is a landscape architect who manages a team of 12 employees who work primarily on commercial landscaping projects. Serge is also responsible for purchasing equipment and landscaping materials, and he recently bought a new Bobcat skid steer machine. He prefers Bobcats even though they are more expensive, because the company provides a variety of add-on products that extend the usefulness of the skid steer, a great warranty, and a competitive price. Thus, Serge purchases the Bobcat due to its .

Serge purchases the Bobcat due to its .

brand equity.

Explanation:

We are considering Serge's preference for Bobcat skid steer machine based on some perceived values.  These values can be described as the brand equity. The Bobcat's brand equity represents the commercial value which customers derive from Bobcat's skid steer when compared with the products of Bobcat competitors.  Purchasing a Bobcat skid steer makes Serge to feel that he has received enough value notwithstanding the more expensive price he pays vis-a-vis choosing the alternatives offered by Bobcat's competitors.  In the equity value, Serge has included the "variety of add-on products that extend the usefulness of the skid steer, a great warranty, and a competitive price."

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