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)
scenario - an outline or synopsis of a play (or, by extension, of a literary work) playscript, script, book - a written version of a play or other dramatic composition; used in preparing for a performance. 2. scenario - a setting for a work of art or literature; the scenario is France during the Reign of Terror