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)
verb. A little girl mimics her big sister. A little girl mimics her big sister. The definition of mimic is make-believe. An example of something mimic is a pretend trial in a law class. To mimic is defined as to imitate or to copy. An example of to mimic is for a child to imitate everything her old sister does.