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)
mimic. 1. To copy (another) slavishly: echo, image, imitate, mirror, parrot, reflect, repeat. 2. To copy (the manner or expression of another), especially in an exaggerated or mocking way: ape, burlesque, caricature, imitate, mock, parody, travesty. Idiom: do a takeoff on. 1. A performer skilled at copying the manner or expression of another: impersonator, mime. 2.