Many researches refer that brand image both influence Word-of-Mouth and Country of Manufacture, and therefore further affect customers’ Brand Equity. For this reason, this paper takes brand image, word of mouth, and Country of Manufacture as the independent variables to examine the direct effects and interactive effects. This paper employs a 2(high and low brand image) x 2(positive and negative word of mouth) x 2(high and low Country of Manufacture) between-subjects factorial design. Eight versions of a questionnaire are developed to test the main, interactive, and moderating effects of above variables. This study found that the moderating effect affects Brand Image and Country of Manufacture variables indeed influence Brand Equity. It was suggested that operators should pay more attention on Brand Image and Country of Manufacture further affect Brand Equity.