Consumer-Based Brand Equity versus Product-Attribute Utility

This study employs a consumer sample to compare two models explaining consumer preferences for craft beer brands.Using hierarchical stepwise multiple regression analysis, predictor variables for craft beer preferences are identified. One model is based on productattribute utility, the other one on dimensions of brand equity. Both models explain a significant percentage of variance in consumer preferences for nine craftbeer brands. Comparing bothmodels suggests, however, that brand equity dimensions (such as functional quality, price, social and emotional utility) have a higher predictive ability than product attributes.