The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success
  • Upcoming Live Fastlane Calls (FREE!)

    Accountability Call for Young Entrepreneurs (FREE - All welcome!): Saturday Feb 24, 2024: 1:30PM EST
  • SPONSORED: GiganticWebsites.com: We Build Sites with THOUSANDS of Unique and Genuinely Useful Articles

    30% to 50% Fastlane-exclusive discounts on WordPress-powered websites with everything included: WordPress setup, design, keyword research, article creation and article publishing. Click HERE to claim.

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Payless Prank

Lex DeVille

Sweeping Shadows From Dreams
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
601%
Jan 14, 2013
5,273
31,668
Utah

Important lessons in context, framing, pricing, and perceived value.

The business sets the context. If the context is a luxury store, then it creates a frame for premium pricing. The frame and context increase the perceived value of the product. With increased perceived value, the right customers are happy to buy.

One thing I wonder is, would those customers still be happy with their Payless quality shoes a week or two after purchase? I've bought Payless shoes before, and there were some noticeable quality issues, especially when compared to other brands I've bought like 5.11 and Nike.

Even though Payless was able to pull a fancy marketing stunt that might trick some people into believing their shoes are of great quality, I don't think it would change the customer experience much in the end. In fact, customers would probably be more disappointed if their shoes wore out fast, or lead to nasty foot odor because they weren't properly ventilated.

Ultimately, the customer would be pissed, and Payless would eat a hard lesson on the difference between perceived value and actual value. As it stands, they've probably at least increased their perceived value for the Christmas season. It may not last, but it definitely got attention.
 

TonyStark

I'm not dead yet
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
191%
Jul 20, 2015
2,278
4,357
30
Austin, Texas
Important lessons in context, framing, pricing, and perceived value.

The business sets the context. If the context is a luxury store, then it creates a frame for premium pricing. The frame and context increase the perceived value of the product. With increased perceived value, the right customers are happy to buy.

One thing I wonder is, would those customers still be happy with their Payless quality shoes a week or two after purchase? I've bought Payless shoes before, and there were some noticeable quality issues, especially when compared to other brands I've bought like 5.11 and Nike.

Even though Payless was able to pull a fancy marketing stunt that might trick some people into believing their shoes are of great quality, I don't think it would change the customer experience much in the end. In fact, customers would probably be more disappointed if their shoes wore out fast, or lead to nasty foot odor because they weren't properly ventilated.

Ultimately, the customer would be pissed, and Payless would eat a hard lesson on the difference between perceived value and actual value. As it stands, they've probably at least increased their perceived value for the Christmas season. It may not last, but it definitely got attention.
You have a way nicer mindset than I do lol

I was thinking how your average consumer is a dolt, but hey your answer is better lol
 

MetalGear

Gold Contributor
FASTLANE INSIDER
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
258%
Jan 24, 2017
605
1,562
Narnia
How I Faked My Way to The Top of Paris Fashion Week
  • Perception is reality
  • The market will provide feedback on quality and can do it brutally
  • I'm completely fascinated by marketing since I might run an e-commerce venture soon
  • Are pants a commodity even if they're Georgio Pevianis? :cool:

 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.
Last edited:

Raoul Duke

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
323%
Feb 26, 2016
2,205
7,123
FRoSQ4f.png
 

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
444%
Jul 23, 2007
37,891
168,187
Utah
Not surprising. Most humans act upon their kneejerk conditioning. In other words, they're Scripted.

The larger message here is the importance of marketing and STORY to your brand build.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Paladin

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
379%
Oct 23, 2018
82
311
It's also interesting to note how nobody has ever talked about a Payless commercial before. It's NOT the value of the commercial but all the free publicity they get from going viral. This story is all over the news and now this forum. There are people with Payless on their mind who didn't even see the video.
 

Walter Hay

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
User Power
Value/Post Ratio
401%
Sep 13, 2014
3,318
13,303
World citizen
Believe it..and is pretty funny. Marketing/promoting and was it the ambience look..or looks like some people were perhaps a bit gullible.
The response by @Lex DeVille was spot on. You can gild the lily but unless it is solid gold it will wilt.

As I have posted previously, superior branding and labeling can persuade people that you have a premium product, but unless the product truly is premium, your success will be short-lived.

Sure there are plenty of gullible people around but products that don't live up to the expectations generated by such branding hype as used by Payless, will turn them into resentful gullible people.

A good move for Payless? Short term it will likely boost revenue. Long term it could lead to disaster.

Walter
 

Bearcorp

Gold Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
238%
Jul 2, 2012
706
1,677
39
Australia
Didn't they refund all the customers? I'm not sure it will hurt the brand long term, other than some embarrassed influencers wouldn't everyone else find it funny that a budget shoe brand punked some wannabe celebrities? That's how I saw it anyway! This has been huge exposure for the business. (didn't watch the video but I've read a bit about it online)
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.
Last edited:

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
444%
Jul 23, 2007
37,891
168,187
Utah
Didn't they refund all the customers? I'm not sure it will hurt the brand long term, other than some embarrassed influencers wouldn't everyone else find it funny that a budget shoe brand punked some wannabe celebrities? That's how I saw it anyway! This has been huge exposure for the business. (didn't what the video but I've read a bit about it online)

Yea, I'm sure it was just a stunt. They wouldn't charge someone for $400 for $40 shoes. That would make this stunt a negative PR action. But it does show how gullible people are with the right lighting, the right glassware, and the right French accent.

The response by @Lex DeVille was spot on. You can gild the lily but unless it is solid gold it will wilt.

Absolutely.

You can market the brand as premium but it has to ultimately deliver that.

This goes back to the concept of perceived/actual value I discuss in Unscripted .
 

JunkBoxJoey_JBJ

Bronze Contributor
FASTLANE INSIDER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
186%
Jul 9, 2018
243
453
Not to say anyone of us couldn't be duped by certain things, but I had second hand embarrassment watching that.

So crazy when you know in advance, "the jig is up". That's what's crazy about SCRIPTED Life. You know, but do you know. Ya' know? Well at least now you know...
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

luniac

Platinum Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
158%
Dec 7, 2012
1,781
2,811
33
brooklyn
How I Faked My Way to The Top of Paris Fashion Week
  • Perception is reality
  • The market will provide feedback on quality and can do it brutally
  • I'm completely fascinated by marketing since I might run an e-commerce venture soon
  • Are pants a commodity even if they're Georgio Pevianis? :cool:


that dude is a genius
 

TheCj

Bronze Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
191%
Jan 3, 2017
223
425
Ontario, Canada
Awesome "prank" I doubt the quality would have been noticed by the people they had shopping since they most likely try new items weekly and never get the chance to wear something out.

Reminds me of people and there wine $5 bottle vs $50 taste tests etc.. . Also if someone said I have a room in my house just for all my beer that I go and enjoy, and have enough beer for years. People would think the person has a drinking problem, say you have a wine grotto/room and all of a sudden you are an elite sophisticated member of society. Back to the comments of marketing mentioned earlier...

Think this also show's the way society is being so dumbed down, so many people have no idea how to judge quality and rely strictly on price as an indicator of how good an item is.
 

TonyStark

I'm not dead yet
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
191%
Jul 20, 2015
2,278
4,357
30
Austin, Texas
Maybe some people with money are more readily available to pay for something expensive, especially if they got that money through inheritance or something.

But I think the fashion industry revolves around the next hot thing, so that probably played a role....
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Walter Hay

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
User Power
Value/Post Ratio
401%
Sep 13, 2014
3,318
13,303
World citizen
Don't forget that there are fashions in many different industries. Most people seem to want the latest...... whatever it is, because without them realizing it, they are following fashion.

There are fashions in phones, food, house designs, cars, house decor, and Oh Yes... clothing.

Walter
 

TonyStark

I'm not dead yet
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
191%
Jul 20, 2015
2,278
4,357
30
Austin, Texas
Don't forget that there are fashions in many different industries. Most people seem to want the latest...... whatever it is, because without them realizing it, they are following fashion.

There are fashions in phones, food, house designs, cars, house decor, and Oh Yes... clothing.

Walter
So don't go chasing waterfalls?
 

Walter Hay

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
User Power
Value/Post Ratio
401%
Sep 13, 2014
3,318
13,303
World citizen
So don't go chasing waterfalls?
So many feel the need to chase their intangible dreams that it makes them the perfect target for clever marketing.

I have been guilty of capitalizing on that by offering something for FREE. It drew in many customers for my second B2B business, including hard-nosed executives who would have known in their hearts that there is no such thing as a free lunch.. Or FREE anything.

IMO, many people are happy to be deceived, provided they can feel a warm glow as a result.

Walter
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

TonyStark

I'm not dead yet
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
191%
Jul 20, 2015
2,278
4,357
30
Austin, Texas
So many feel the need to chase their intangible dreams that it makes them the perfect target for clever marketing.

I have been guilty of capitalizing on that by offering something for FREE. It drew in many customers for my second B2B business, including hard-nosed executives who would have known in their hearts that there is no such thing as a free lunch.. Or FREE anything.

IMO, many people are happy to be deceived, provided they can feel a warm glow as a result.

Walter
Sounds like drugs
 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top