Look at wine. Studies show that people enjoy the _same_ wine if they pay more for it. Is that deception? Intrinsically, why does one bottle of wine cost more than the other? Because it's _better_? What exactly makes one bottle of wine better than the other? It's very subjective.
When it comes to products/service that are more quantifiable perhaps the better argument can be made. But that's almost never possible. Businesses distinguish their product/service by other factors that are not easily quantifiable (eg. better customer service, better user experience) that add value.
I think deception is the wrong word to use but certainly consumers can save a lot of money by simply being educated about what they're buying (eg. buying the generic version of Claritin/drugs for 60% of the price).