Another thing considered in the luxury market is social class and status. Considering their high prices, even thought the product are of guaranteed quality, it's not for those below avarage to patronise. I have seen cases where people decided to go for low-grade products which they can conveniently afford than save a whole lot for higher grades.
Luxury products are indeed for those who are wealthy and have a higher social class or status. The point is the wealth and affluent also want to distinguish themselves from the masses and prefer using products that are scarce and too expensive for the average people. Luxury products is not only demanded for their durability and quality, but for the self esteem of users.
yeah correct but I think people have taste for luxury product sometimes people do not buy it because of quality but because of brand Luxury products are usually identifiable through exceptional quality and high aesthetic appeal and value, and often belong to the range of products which can be clearly identified either through logo or brand name or design but all this concludes i mean it everything depends on the taste some will buy the because of the quality, another one because of the brand.
Your point is quite logical, there is always a distinguishing factor between a luxury product and an average product in terms of taste and durability. But most times, when the only distinguishing factor is the brand, then its something else that has to do with prestige and status.