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Inside LVMH Final Exam

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Inside LVMH Final Exam Quiz with Verified

Correct Answers 100% Solved Graded A+

Latest Update 2025

What business sector generated the highest share of revenues in 2021? --- correct answer --- fashion & leather goods

How many stores does LVMH manage? --- correct answer --- 5,

Which was the first Perfume launched in 1947 by Christian Dior? --- correct answer --- Miss Dior

What are the key drivers for selective retailing maisons? --- correct answer - -- - Constant innovation

-Personalisation of relationships

-Transforming shopping in a unique experience

Select the latest Maison who joined the LVMH Watches & Jewelry division. --

- correct answer --- Tiffany & Co

Among the following activities, which one(s) can you find in the other activities sector? --- correct answer --- - Culture

-Art

-Lifestyle

-Hospitality

Which is the latest Maison created in the Perfumes & Cosmetics division? --- correct answer --- STELLA by Stella McCartney

How many Maison are these with in the LVMH Group? --- correct answer --- More than 75

How many employees work at LVMH? --- correct answer --- 175,

Eminete is a new Maison of the Wine & Spirits division and offers high qualitative. --- correct answer --- Rum

What are the core values of LVMH? --- correct answer --- - Creativity & Innovation

-Entrepreneurial Spirit

-Quest for excellence

-Sense of commitment

According to Bain & Company, by 2025 online sales will represent --- correct answer --- More than 30% of the luxury sales

Select the appropriate sentences related to LVMH omnichannel strategy --- correct answer --- - Omnichannel is a client - centric approach aimed at providing a consistent, qualitative, and seamless customer experience across all channels and geographic.

• Establishlising a smooth omnichannel customer experience requires cross collaboration across all teams, departments, and through all activities from warehouses to stores.

Looking at distribution, is Brick and Mortar still important part of the luxury story? --- correct answer --- Yes

Which of the following statements are part of the 6 pillars of the LVMH business model? --- correct answer --- - Sustaining savior faire

• Creating synergies
• Balance across business segments and locations
• Decentralized organization

Which characteristics may help to measure the luxuriousness of an offer? --- correct answer --- - Price

• Quality
• Scarcity
• Signed by brands

What challenges can you be faced with when innovating in the luxury sector? --- correct answer --- - Integrating the human sensibility within innovation

• Finding the right pace of innovation implementing all of the newest tech innovations quickly

How are eco-conscious customers adapting their consumption? --- correct answer --- - Rediscovering vintage products

-Rethinking the products as a service (rental) and not only a good to own

Consumers place a greater value on customised products because it answers their need for uniqueness --- correct answer --- True

From creating value to expressing value-what are the key principles of luxury? --- correct answer --- - Consumers have a range of consumption motivations

• Consumers tend to express their values through the brands they select
• Brands can become powerful personal branding tools as they project clear and strong values
• Brands can deliver higher perceived value to their customers by expressing own values.

What is one of the most important dimensions of Luxury for Serge Carreira? --- correct answer --- True

Emotional value... --- correct answer --- is about the ability of brands to create affective responses all the way to strong emotions of joy and pride, and to identify and nurture these emotions.

To remain relevant, what values must brands respect? --- correct answer --- - Sustainability

• Quality
• Inclusivity

Is sustainability the biggest challenge for the luxury industry? --- correct answer --- Yes, say experts from Guerlain and Louis Vuitton

The environment is the key to the future of luxury. --- correct answer --- LVMH drives biodiversity, climate change, traceability and circulating

Sustainability and sustainable development can be seen as the ability to meet the needs of the present without compromising the ability of future generations to meet their own needs --- correct answer --- Yes

Which of the following are part of LVMH's Life 360 Program to positively impact the environment? --- correct answer --- - Protect Biodiversity

• Fight Climate Change
• Participate to the circular economy
• Offer transparency

For Carole Collet, what are key principles for regenerative luxury --- correct answer --- Transition to a regeneration culture where design can actively reserve socio-ecological damage

The Second Pau Ruinart initiative aims at promoting Sustainable innovation by rethinking the way Ruinart produces champagne --- correct answer --- False

What is the goal of the Bee Respect platform? --- correct answer --- A platform that offers more transparency on the supply chain and whole life cycles of Guerlain products

Which of the following statement is NOT a pillar of social responsibility at LVMH? --- correct answer --- - Providing access to digital for all

What is equity about? --- correct answer --- It's about fairness based on individuals varying life experiences.

How can you help your (future) organisation harness diversity in a way that promotes greater inclusion? --- correct answer --- - Being aware that out- group bias exists and we are all prone to it.

• Acting as an ally when you see inequity or exclusion

• Being open to difference and learning helps counteract exclusion.

The circular economy is a free market system in which temporary positions are common and organisations hire independent workers for short-term commitments --- correct answer --- False

The goal of the IME (Institut des Metiers d' Excellence) is to --- correct answer --- Transmit savoir-faire

Which of the following statements are Guerlain's nature-driven guiding principles? --- correct answer --- - Innovating sustainably

-Acting for climate

-Preserving biodiversity

-Creating positive social impact

According to Fabrizio Buonamassa from Bulgari, design can be seen as art applied to industry --- correct answer --- Yes

According to Alice Litscher, what are the 3 steps of the creative process? --- correct answer --- Collecting - Experimental- Making

At Louis Vuitton, what does every design project start with? --- correct answer --- Researching

What fields are included in the ASCEND framework presented by Thomas Serdan which organises the understanding of creativity? --- correct answer - -- Arts, Science, Engineering, Design

When creating a new perfume, Thierry Wasser first tries to --- correct answer --- Understand where the concept of the perfume comes from.

According to Carole Blidé, her first role as marketing and communication Director for Veuve Clicquot is to --- correct answer --- engage customers and make Veuve Clicquot the most desirable Champagne brand

At Louis Vuitton, the visual studio tram puts sustainability at the heart of design & process by --- correct answer --- - Re-using existing materials

• Re-using previous schemes in new incarnations
• Questioning materials & production techniques

A brand DNA is based on --- correct answer --- - Heritage

• Values

In store, decoration is the only element that will allow the customer to feel the brand's DNA --- correct answer --- No

Among the following, which ones are features of product superiority according to Anne Michaut from HEC Paris? --- correct answer --- - Exceptional Design

• Craftsmanship

According to Sonja Prokopec, when talking about codes, luxury consumers are now looking for --- correct answer --- More discreet ways of expressing themselves

Experimental marketing is a must have today for brands. To engage customers, brands have to --- correct answer --- - Delight them

• Immerse them
• Entertain them

The brand has to always modernize following the evolving demands of the customers, even if it means sacrificing some of its history and legacy. --- correct answer --- False

When talking about codes, a subtle signal could be --- correct answer --- - A color

• An emblem
• A shape
• A print

Building up brand's desirability while being authentic became one of the most important points in brand management, as seen from Veuve Clicquot and Parfums Christian Dior. --- correct answer --- True

According to Emanuela Prandelli from Bocconi University, the next frontier of omnichannel customer engagement will probably come from the recent development of non-fungible tokens? --- correct answer --- Yes

According to Sandrine Crener from Harvard Business School, we have moved from a traditional retail model to a new global and omnichannel model. This traditional model was defined by --- correct answer --- - a few stores in a limited number of cities in the world

• a target of fee privileged people who had physical access to those stores
• the promotion of scarcity and exclusivity

According to Anne Michaut from HEC Paris, what are the purposes of retail today? --- correct answer --- - Magnifying the product

• Nurturing client's emotion
• Celebrating the brand

Gamification is a way for luxury brands to get closer to a younger clientele - -- correct answer --- Yes

Select the key success factors of a successful customer experience --- correct answer --- Customised

Relevant

Involving

Memorable

Elevating

What are the main rules to follow when it comes to customer experience? --- correct answer --- - Customer first

• Connection with customers
• Brand consistency

How can a brand develop its customer loyalty? Through --- correct answer --

- - Clientelling programs

• Partnership with other maisons
• Dedicated events
• Services

At Guerlain, what are the three pillars that create a connection with customers? --- correct answer --- - Store teams

• Customer programs
• Place and retail design

In transitioning from multi-channel to omni-channel, Wendy Chan shares the 3 critical pillars for success: --- correct answer --- Data

IT

People

About the customer experience: the COVID crisis has been an incredible accelerator of the shift from transaction to personalised service --- correct answer --- Yes

What are the main qualities to succeed as a store manager? --- correct answer --- - You need to have an insatiable curiosity for products

• You need to be passionate
• You need to like people
• You need skills in storytelling

What are the 2 main roles of store managers? --- correct answer --- - Providing a lasting experience with their clients

• Developing their team

When it comes to retail, what objectives do data and AI serve? --- correct answer --- - Automating tasks to improve customer satisfaction

• Optimising the retail space
• Personalising the customer experience

According to Gautier Pigasse, the use of technologies such as the blockchain is helpful to create a seamless luxury experience in a secure environment to best meet our client expectations --- correct answer --- True

Which of the following are part of the 7 essential characteristics that help measure the luxuriousness of an offer? --- correct answer --- - Quality

• Signed brands
• Scarcity
• Delivering experiential rewards

Which of the following statements are pillars of the LVMH? --- correct answer --- - Sustaining savoir-faire

• Creating Synergies
• Balance across business segments and locations

The Chinese consumers will reach by 2025 --- correct answer --- 46 to 48% of global Luxury Goods Purchase

How are eco-conscious customers adapting their consumption? --- correct answer --- - Rethinking the product as a service (rental) and not only as a good to own

• Seeking eco-transparency from brands
• Rediscovery of vintage products

Consumer choices are driven by the value created by brands and perceived by customers, namely; functional, experiential and investment value. --- correct answer --- False

Transparency is about being able to trace materials from their origins and through each step of their transformation --- correct answer --- Yes

At Guerlain, marketing, development and sustainable development teams set ambitious goals for each new product --- correct answer --- - They follow an Environmental Performance Index

• With each new development they commit to producing less CO2 than its predecessor
• They follow the 3Rs: Reduce, Reuse, Recycle

Which of the following statements are pillars of social responsibility at LVMH? --- correct answer --- - Respecting the uniqueness of employees

• Passing on and developing savoir-faire
• Supporting our employees by improving their safety and well-being

The circular economy is an economic system aimed at reducing waste and the continual use of resources --- correct answer --- Yes

Among the following, which ones are sources of inspiration for designers? - -- correct answer --- - Childhood

• Artistic fields
• the brand legacy

Every design project should begin with --- correct answer --- Researching

Besides Fashion and leather Good brands, the brand codes are not so well developed in other sectors of the luxury industry. --- correct answer --- No

Brand management's key stake is to --- correct answer - -- - Develop the desirability of the brand.

Among the following choices, which propositions are the main tasks of a store manager? --- correct answer --- - Proving a lasting experience with their clients

• Developing their team

What are the main challenges for e-commerce experts at LVMH? --- correct answer --- - Building the strongest bridge between the online and offline shopping experience

• Developing a seamless customer experience

In China, Luxury Beauty brands entered E-commerce with market places --- correct answer --- Yes

What are the main qualities required for a store manager to succeed in offering the client a memorable experience? --- correct answer --- - You need to have an insatiable curiosity for products

• You need a high level of engagement
• You need to like people
• You need skills in storytelling

Blockchain cannot enable following and securing the whole product life- cycle from sourcing to shelf --- correct answer --- False

Personalisation positively impacts product recognizability and the brand's signaling potential --- correct answer --- No

According to Bain & Company, the role of the store will need to transform from transaction-centric to relationship-centric --- correct answer --- Yes

What are the two major challenges of innovation in the luxury sector? --- correct answer --- - Integrating human touch

• Finding the right place

Diversity is only limited to common characteristics such as race, ethnicity, and gender --- correct answer --- No

"Creativity is a discussion, not a monologue." Do you agree with this statement --- correct answer --- Yes

Omnichannel and data acceleration are important topics in LVMH as today it is necessary to provide seamless and best-in-class customer experience --- correct answer --- Yes

What are the key characteristics of a brand today that help to attract and engage the customer? --- correct answer --- - authentic identity and a clear message

• reflecting strong commitment and spreading awareness
• maintaining a strong legacy
• consistent communication across relevant channels

According to Yves Dallery what is the definition of Operations? --- correct answer --- Operations refers to all the activities that transform raw

materials, components, and packaging into finished goods and then distribute those products to the final customers.

What are the 2 main challenges for supply chain and operations within the luxury industry? --- correct answer --- - Increasingly emphasising corporate social responsibility

• Helping luxury Maisons become more and more customer centric

Select 3 pillars of sustainable performance within the field of Operations --- correct answer --- - Financial Performance

• Environmental Performance
• Social Performance

Among the following statements, select the ones which have a positive environmental impact. --- correct answer --- - Minimising the impact of a product on the environment

• Avoiding the destruction of a product
• Maximising the lifetime of a product

According to Laurent Raoul, GLOBAL Supply Chain management is composed of 3 steps : Design & Development, Production & Supply and Distribution & Dispatch --- correct answer --- Yes