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)
We begin this book with a dictionary deï¬nition of the word model: model(n): a miniature representation of something; a pattern of some-. thing to be made; an example for imitation or emulation; a description or. analogy used to help visualize something (e.g., an atom) that cannot be dir-. ectly observed; a system of postulates, data and inferences presented as a.