The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognizable and superior in quality and reliability.
Definition of simulate. simulated. ; simulating. transitive verb. 1 : to give or assume the appearance or effect of often with the intent to deceive : imitate. 2 : to make a simulation of (as a physical system)
S IMULACRUM (simulacra) : Something that replaces reality with its representation. Jean Baudrillard in The Precession of Simulacra defines this term as follows: Simulation is no longer that of a territory, a referential being, or a substance.It is the generation by models of a real without origin or reality: a hyperreal....ean Baudrillard in The Precession of Simulacra defines this term as follows: Simulation is no longer that of a territory, a referential being, or a substance. It is the generation by models of a real without origin or reality: a hyperreal....