I am currently setting up a conjoint with summed pricing. The product has in reality up to around 40 different features ('solutions' they call it), which are on/off. Each of these features have a price component, that should be added to the total price.
By a constructed list we limit the number of features to 10 or 12 relevant ones in the ACBC.
When adding up the price components of the different features, we could easily reach (or exceed) the total price of the machine.
I have 2 questions:
-how do I adjust the summed price, depending on the number of available features (on)? Could I e.g. work with a dummy variable in the price adjustment tab? If so, an example could be helpful
-at the analysis level, the product to simulate may contain up to all features, while the respondent will only be confronted with the relevant ones. My point is that this affects the total price; in the exercise prices could be lower than in the analysis. How do I make sure the prices are in the same range, still achieving a logical price sensitivity, even when having most features? I was thinking to not add any price component above a certain price (or a certain amount of features). And also assume that the respondent would want to pay for features that are not relevant.
Any advice? Do you have an efficient suggestion?