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)
About Simulation Simulation is the imitation or representation of one act or system by another. Healthcare simulations can be said to have four main purposes â education, assessment, research, and health system integration in facilitating patient safety.