User:Nbshukla70

There isn't a specific definition of the term "Homogeneous Luxury Goods", however, it can be closely associated with the meaning of Luxury Goods " Products and services that are not considered essential and are associated with affluence. With the clear differences between social classes in earlier civilizations, the consumption of luxury was originally limited to the elite classes" [1] However the Homogeneous part of these luxury goods could refer to the similarities in the features, price and the basis satisfaction level of a customer. The perceived value of these products are almost the same, for an example of buying a specific luxury car could be a decision based on brand loyalty even though a competing brand may offer similar benefits.

[1] https://en.wikipedia.org/wiki/Luxury_goods