"The ease with which defects of materials or workmanship can be concealed forces of purchaser to often judge quality by price." (W.C. Mitchell, 1912) Price is the monetary or non-monetary value that customers are willing to give up or exchange, for obtaining a desired product, which is beneficial for customers on their willingness and preferences. The consumer's preferences depend on the intrinsic characteristics of the product, such as quality and utility, are the main characteristics that customers will take into consideration of purchasing expensive product. Numerous marketing researches such as the study of relationship between price and quality (Erickson, Johansson, 1985) indicated that a price and perceived quality phenomenon exists when there is the situation of product uncertainty or lack of information of that desired product, the price will be widely used as a prediction base which it is the best available and understandable characteristic to evaluate the quality of product. These researches indicate that there is a strong psychological inclination of customers in believing that the higher priced product will relatively have higher quality, as a result, price becomes the quality cue. Under the observation of an asymmetric information experiment (Kusmierczyk, 2005), it seems that this behaviour pattern influences on producers' decision making on pricing, where most of the producers set price to declare its quality, which lead to a situation where consumers are willing to purchase a product with higher price rather than with lower price.
Consumer decision-making process, a process when individuals make decision, under their willingness, on purchasing a product by determining several choices, products, brands or ideas (p.106 Real People, Real Choices). It is mainly influenced by consumer behaviour, which consumer will be conducted by the internal influences,