Hi, I am looking for suggestions on how to tackle a situation, where for a segment of respondents some price levels in a conjoint were too low and not plausible to be offered in the real world.
For example, we show same price levels to all respondents, but what if we have a group of respondents that we know would be offered higher prices because of their income level. But, we already fielded the conjoint with low price levels together with high price levels. We did not want to run two conjoints to address that and decided to run a single conjoint instead and adjust pricing after in the analysis.
As a result, of course, everyone wanted cheaper products and therefore WTP of high earners is the same as low earners, which is not true: high earners have higher purchasing power than lower earners and therefore can afford more expensive product.
I would appreciate any ideas how to address this issue.