Lex DeVille
Sweeping Shadows From Dreams
FASTLANE INSIDER
EPIC CONTRIBUTOR
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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.