Inside LVMH Final Quiz
According to Sonja Prokopec, when talking about codes, luxury consumers are now looking for
More discreet ways of expressing themselves
According to Bain & Company, by 2025 online sales will represent
More than 30% of the luxury sales
How many Maison are these with in the LVMH Group?
More than 75
Besides Fashion and leather Good brands, the brand codes are not so well developed in other sectors of the luxury industry.
No
Diversity is only limited to common characteristics such as race, ethnicity, and gender
No
In store, decoration is the only element that will allow the customer to feel the brand's DNA
No
Personalisation positively impacts product recognizability and the brand's signaling potential
No
According to Yves Dallery what is the definition of Operations?
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.
At Louis Vuitton, what does every design project start with ?
Researching
Every design project should begin with
Researching
Eminete is a new Maison of the Wine & Spirits division and offers high qualitative.
Rum
Which is the latest Maison created in the Perfumes & Cosmetics division?
STELLA by Stella McCartney
Select the latest Maison who joined the LVMH Watches & Jewelry division.
Tiffany & Co
For Carole Collet, what are key principles for regenerative luxury
Transition to a regeneration culture where design can actively reserve socio-ecological damage
The goal of the IME (Institut des Metiers d' Excellence) is to
Transmit savoir-faire
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
True
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.
True
Consumers place a greater value on customised products because it answers their need for uniqueness
True
What is one of the most important dimensions of Luxury for Serge Carreira?
True
When creating a new perfume, Thierry Wasser first tries to
Understand where the concept of the perfume comes from.
"Creativity is a discussion, not a monologue." Do you agree with this statement
Yes
About the customer experience: the COVID crisis has been an incredible accelerator of the shift from transaction to personalised service
Yes
According to Bain & Company, the role of the store will need to transform from transaction-centric to relationship-centric
Yes
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 ?
Yes
According to Fabrizio Buonamassa from Bulgari, design can be seen as art applied to industry
Yes
According to Laurent Raoul, GLOBAL Supply Chain management is composed of 3 steps : Design & Development, Production & Supply and Distribution & Dispatch
Yes
Gamification is a way for luxury brands to get closer to a younger clientele
Yes
In China, Luxury Beauty brands entered E-commerce with market places
Yes
Looking at distribution, is Brick and Mortar still important part of the luxury story?
Yes
Omnichannel and data acceleration are important topics in LVMH as today it is necessary to provide seamless and best-in-class customer experience
Yes
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
Yes
The circular economy is an economic system aimed at reducing waste and the continual use of resources
Yes
Transparency is about being able to trace materials from their origins and through each step of their transformation
Yes
Is sustainability the biggest challenge for the luxury industry?
Yes, say experts from Guerlain and Louis Vuitton
According to Carole Blidé, her first role as marketing and communication Director for Veuve Clicquot is to
engage customers and make Veuve Clicquot the most desirable Champagne brand
What business sector generated the highest share of revenues in 2021?
fashion & leather goods
Emotional value...
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.
When talking about codes, a subtle signal could be
- A color - An emblem - A shape - A print
When it comes to retail, what objectives do data and AI serve ?
- Automating tasks to improve customer satisfaction - Optimising the retail space - Personalising the customer experience
How can you help your (future) organisation harness diversity in a way that promotes greater inclusion?
- 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.
What are the main challenges for e-commerce experts at LVMH ?
- Building the strongest bridge between the online and offline shopping experience - Developing a seamless customer experience
Among the following, which ones are sources of inspiration for designers ?
- Childhood - Artistic fields - the brand legacy
How can a brand develop its customer loyalty ? Through
- Clientelling programs - Partnership with other maisons - Dedicated events - Services
What are the key drivers for selective retailing maisons?
- Constant innovation -Personalisation of relationships -Transforming shopping in a unique experience
From creating value to expressing value-what are the key principles of luxury?
- 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 are the core values of LVMH?
- Creativity & Innovation -Entrepreneurial Spirit -Quest for excellence -Sense of commitment
Among the following activities, which one(s) can you find in the other activities sector ?
- Culture -Art -Lifestyle -Hospitality
What are the main rules to follow when it comes to customer experience?
- Customer first - Connection with customers - Brand consistency
Experimental marketing is a must have today for brands. To engage customers, brands have to
- Delight them - Immerse them - Entertain them
Brand management's key stake is to
- Develop the desirability of the brand.
Among the following, which ones are features of product superiority according to Anne Michaut from HEC Paris ?
- Exceptional Design - Craftsmanship
Select 3 pillars of sustainable performance within the field of Operations
- Financial Performance - Environmental Performance - Social Performance
A brand DNA is based on
- Heritage - Values
What are the 2 main challenges for supply chain and operations within the luxury industry ?
- Increasingly emphasising corporate social responsibility - Helping luxury Maisons become more and more customer centric
Which of the following statements are Guerlain's nature-driven guiding principles?
- Innovating sustainably -Acting for climate -Preserving biodiversity -Creating positive social impact
What are the two major challenges of innovation in the luxury sector?
- Integrating human touch - Finding the right place
What challenges can you be faced with when innovating in the luxury sector?
- Integrating the human sensibility within innovation - Finding the right pace of innovation implementing all of the newest tech innovations quickly
According to Anne Michaut from HEC Paris, what are the purposes of retail today?
- Magnifying the product - Nurturing client's emotion - Celebrating the brand
Among the following statements, select the ones which have a positive environmental impact.
- Minimising the impact of a product on the environment - Avoiding the destruction of a product - Maximising the lifetime of a product
Select the appropriate sentences related to LVMH omnichannel strategy
- 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.
Which characteristics may help to measure the luxuriousness of an offer?
- Price - Quality - Scarcity - Signed by brands
Which of the following are part of LVMH's Life 360 Program to positively impact the environment?
- Protect Biodiversity - Fight Climate Change - Participate to the circular economy - Offer transparency
What are the 2 main roles of store managers ?
- Providing a lasting experience with their clients - Developing their team
Which of the following statement is NOT a pillar of social responsibility at LVMH?
- Providing access to digital for all
Among the following choices, which propositions are the main tasks of a store manager ?
- Proving a lasting experience with their clients - Developing their team
Which of the following are part of the 7 essential characteristics that help measure the luxuriousness of an offer ?
- Quality - Signed brands - Scarcity - Delivering experiential rewards
At Louis Vuitton, the visual studio tram puts sustainability at the heart of design & process by
- Re-using existing materials - Re-using previous schemes in new incarnations - Questioning materials & production techniques
How are eco-conscious customers adapting their consumption?
- Rediscovering vintage products -Rethinking the products as a service (rental) and not only a good to own
Which of the following statements are pillars of social responsibility at LVMH ?
- Respecting the uniqueness of employees - Passing on and developing savoir-faire - Supporting our employees by improving their safety and well-being
How are eco-conscious customers adapting their consumption ?
- Rethinking the product as a service (rental) and not only as a good to own - Seeking eco-transparency from brands - Rediscovery of vintage products
At Guerlain, what are the three pillars that create a connection with customers ?
- Store teams - Customer programs - Place and retail design
To remain relevant, what values must brands respect?
- Sustainability - Quality - Inclusivity
Which of the following statements are part of the 6 pillars of the LVMH business model?
- Sustaining savior faire - Creating synergies - Balance across business segments and locations - Decentralized organization
Which of the following statements are pillars of the LVMH ?
- Sustaining savoir-faire - Creating Synergies - Balance across business segments and locations
At Guerlain, marketing, development and sustainable development teams set ambitious goals for each new product
- 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
What are the main qualities required for a store manager to succeed in offering the client a memorable experience ?
- 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
What are the main qualities to succeed as a store manager ?
- You need to have an insatiable curiosity for products - You need to be passionate - You need to like people - You need skills in storytelling
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
- 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
What are the key characteristics of a brand today that help to attract and engage the customer ?
- authentic identity and a clear message - reflecting strong commitment and spreading awareness - maintaining a strong legacy - consistent communication across relevant channels
How many employees work at LVMH?
175,000
The Chinese consumers will reach by 2025
46 to 48% of global Luxury Goods Purchase
How many stores does LVMH manage?
5,500
What is the goal of the Bee Respect platform?
A platform that offers more transparency on the supply chain and whole life cycles of Guerlain products
What fields are included in the ASCEND framework presented by Thomas Serdan which organises the understanding of creativity?
Arts, Science, Engineering, Design
According to Alice Litscher, what are the 3 steps of the creative process ?
Collecting - Experimental- Making
Select the key success factors of a successful customer experience
Customised Relevant Involving Memorable Elevating
In transitioning from multi-channel to omni-channel, Wendy Chan shares the 3 critical pillars for success:
Data IT People
Blockchain cannot enable following and securing the whole product life-cycle from sourcing to shelf
False
Consumer choices are driven by the value created by brands and perceived by customers, namely; functional, experiential and investment value.
False
The Second Pau Ruinart initiative aims at promoting Sustainable innovation by rethinking the way Ruinart produces champagne
False
The brand has to always modernize following the evolving demands of the customers, even if it means sacrificing some of its history and legacy.
False
The circular economy is a free market system in which temporary positions are common and organisations hire independent workers for short-term commitments
False
What is equity about ?
It's about fairness based on individuals varying life experiences.
The environment is the key to the future of luxury.
LVMH drives biodiversity, climate change, traceability and circulating
Which was the first Perfume launched in 1947 by Christian Dior?
Miss Dior
