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Professor Wolters discusses the difference between brand image and brand identity in marketing. Brand image is how a brand is perceived by others, based on their impressions and experiences. It is important because it shapes how people think of a product or brand. Brand identity, on the other hand, is how a brand wants to be perceived by the target audience. It is something that can be controlled, unlike brand image which can be influenced by external factors. The key takeaway is that marketers need to understand and manage both brand image and brand identity to effectively shape consumer perceptions.