11. Write TRUE if the statement is correct and FALSE if the statement is wrong.

Pocket price is the price that companies have established for their products. ................

Pocket price illustrates the discounts that occur during the sale in the company. ................

While most companies have a good idea of the pocket prices they have estab- lished for their products, they are often unclear on the prices that customers are actually paying.................

The price waterfall demonstrates fairly that the pocket price paid by an indi- vidual customer is often not the result of a single decision............

Management information systems most often do not report on transaction price performance, or report only average prices ................

Pricing and revenue optimization incorporates two major factors including costs and customer segments................

If all of our products are priced with the right surcharge, the company is guaranteed to make back the cost of production only....................

Cost-plus pricing captures the full price that customers might be willing to pay for a product. .................

Value-based pricing is applied by smaller players in the market..................

All of the following are inputs to any value-pricing decision: cost of goods sold, ture economic value, perceived value.......

Pricing is less complex in services than it is in manufacturing................

Sophisticated and deliberate buyers study alternatives, become knowledgeable about options, learn to navigate the complexities of price, and seek to gain buyer power by bundling purchases together, all of which heighten price sen- sitivity. ................

price is high in a relative sense is an indicator that heighten consumer sen- sitivity to price............

Performance as expected is a product indicator of customer price sensitiv- ity.................

Pocket price is what a particular customer ends up actually paying................

The long-run elasticity of durable goods (i.e. Automobiles) is lower than the short-run elasticity.................

Difficult comparability reduces the price sensitivity.................

An aspect of product performance that is mission-critical, such as safety for an automobile, increases price sensitivity..................

Using a one-price policy (i.e., where all buyers pay the exact same) is the only fair approach to pricing........

Price customization is the primary way that many organizations improve price realization. For example, service companies such as hotels and airlines have been able to increase profitability through dynamic pricing implemented through yield-management systems.......