Hello, I'm looking for some guidance on whether to constrain price in a study.
We used conditional pricing. Each product had a different base price and we varied those prices by -/+ 30%. The price part-worths are not showing any clear trend. It appears that respondents did not perceive much of a difference when the price of a particular product increased or decreased.
That's an interesting finding, of course, but the rational consumer will of course prefer Product A at a lower price compared to Product A at a higher price. As such, I'm thinking of constraining price but I'm afraid that I'm essentially creating price sensitivity in the model that the data don't support.