Price in multicountry setting

Question

Hi we are starting up a multi country studie in europe and US and want to put in a CBC or ACBC (specifics still to be discussed). we will probably use a fixed price attribute with 5 or so levels.  however our currencies are different between europe and US and priceranges may differ to for the type of product.. how best to deal with this.. just put in 15 euro instead of 15$, or do we need to have exact same values for the price levels. Can we combine the data into 1 simulator or should we keep the analysis of the price elements (and thus the CBC) seperate?

tx

Answer 1

I recently dealt with this in 5 different countries.  I did create a different survey for each to deal with some language differences, but the pricing was changed to each based on the currency and price range differences between the countries.  You definitely can't just use the same number, it will need to be converted.  Once you figure out the correct amounts you can just create a constructed list to use based on their country.

Comments

How did you intregrate the data of the different  countries on the price levels together then? at the end, the client is interested in a cross country simulator, so how to deal with this..

tx for the help

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i would use a simulator that is able to combine independent conjoint cells into one output. you should have different price elasticities in different countries anyway, so you won't have one set of utilities anyway (at least I assume you wont)