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)
M&S Definitions - from Defense-related Sources. Modeling and Simulation (M&S): The use of models and simulations, either statistically or over time, to develop data as a basis. for making managerial or technical decisions. This includes, but is not limited to, emulators, prototypes, simulators, and stimulators..