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)
virâ¢tuâ¢al /ËvÉtÊuÉl/USA pronunciation adj. virâ¢tuâ¢alâ¢ly, adv. 1  being (the noun stated) in force or effect, though not actually or expressly such[before a noun]They were reduced to virtual poverty. 2  Computingtemporarily simulated or extended by computer software:virtual memory on a hard disk. being such in power, force, or effect, though not actually or expressly such:a virtual dependence on charity. 2  noting an image formed by the apparent convergence of rays geometrically, but not actually, prolonged, as the image formed by a mirror (opposed to real).