There are other factors that influence price sensitivity. One of those is rarity. Rare products like collectibles, art, or luxury products tend to have less price sensitivity. Often, consumers want the products in part because they are rare, which is unrelated to the price. By contrast, an individual product that is common and not unique, like a commodity, will have higher price sensitivity.
Switching costs also determine price sensitivity. If a product has high switching costs, sensitivity will be lower since consumers are essentially locked into buying that item. That explains why Apple (AAPL -1.64%) is able to charge a 30% commission on in-app purchases. Once you own an iPhone or iPad, you have little choice but to pay the fee if you want to spend money in the app. Similarly, developers need to be on those devices, so they also must pay the fee.