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)
Define fictitious: of, relating to, or characteristic of fiction : imaginary â fictitious in a sentence of, relating to, or characteristic of fiction : imaginary; conventionally or hypothetically assumed or accepted; false, assumedâ¦