If it's a global brand, people would anyway get to know the real price (thanks to Google).

If it's a niche concept, it depends on how you want to position it. "Sales is changing perceptions". If you create a hype on the branding and promotional activities in a suburb location, people feel its over priced. If you under value the product in a high lifestyle location, you cannot meet your sales numbers. You need to look at the surrounding factors that influence price; since price is not an isolated factor.

When you do a business model, price is generally calculated after the backward integration is done.

My suggestion is, do a pilot in 3 types of markets at 3 different price points. Closely watch the response and the pattern, you will be a winner :)