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)
âº to do or make something that looks real but is not real: 1  In cheap furniture, plastic is often used to simulate wood. 2  formal Ruth simulated pleasure at seeing Sam, but really she wished he hadn't come. 3  The computer simulates (= represents) different road conditions for new drivers to practise on.