In terms of consumer products, what factor often distinguishes luxury goods from non-luxury goods?

Luxury goods are often distinguished from non-luxury goods primarily by their brand positioning. Luxury brands typically emphasize exclusivity, high quality, and a prestigious image, which set them apart in the marketplace. This positioning caters to consumers' aspirations and desires for social status, luxury experiences, and craftsmanship, making these products not just a purchase but also a statement of lifestyle and identity.

In contrast, non-luxury goods focus more on accessibility, practicality, and functionality. Brand positioning for these products usually highlights value and convenience rather than exclusivity. Therefore, the unique approach that luxury brands take in crafting their image and marketing strategies is what truly differentiates them from non-luxury brands.

While factors like demand levels, advertising strategies, and price elasticity are essential for understanding market dynamics, they do not exclusively define the distinction between luxury and non-luxury goods the way brand positioning does.