ibps-so 2024 · Question 151 of 209

A bank wants to launch a new Savings Account and uses Conjoint Analysis to determine if customers prefer a 'Higher Interest Rate' over 'Unlimited ATM Withdrawals'. What is the primary advantage of using Conjoint Analysis here instead of a simple survey?

1. AIt forces consumers to make trade-offs, mimicking real-world buying behaviorCorrect
2. BIt is cheaper and faster to implement than traditional surveys
3. CIt estimates customer preferences by analyzing subconscious decision rules without requiring explicit responses
4. DIt helps directly measure actual purchase transactions in real time without survey data
5. EIt replaces the need for segmentation by identifying a single universal customer preference