Payless is a brand that is synonymous with very cheap quality, but affordable shoes. However, perception can be reality in some cases. A few years ago, Payless did an experiment to see if they sold the same shoes at significantly higher prices, while also changing the name and aesthetic of their stores, would it make a difference? Would people be willing to pay the higher prices for low quality shoes based on the allure and price tag?

For this assignment, look up the Payless-Palessi thought experiment that the company conducted. There are tons of YouTube videos, news articles/videos, and commentary about it. What are the marketing concepts that can be learned from this experiment? How do the 4Ps play a factor into how Palessi was received as opposed to how Payless is usually received? What did you learn from doing research about this experiment? What was your favorite part of the experiment? Answer all these questions as well as link back to whichever videos and/or articles you've used.