Laminate floors have a wood-grain appearance and planks that are the same size and shape as wood floor planks, so they're a convincing substitute for hardwood. On top of that, they can last much longer than even sturdier woods can. Because laminate floors get their designs from photographic images rather than a physical layer of wood, people can choose the look of any wood they want without worrying about durability or price.
The multilayers construction of laminate planks gives you the freedom to install the planks in more areas than you could with hardwood. You can install it on, below, and above grade. That means you can have wood look floors in your basement, living room, or bedroom.