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INSIDE LVMH FINAL EXAM WITH QUESTION AND
ANSWERS (VERIFIED AND WELL DETAILED ANSWERS)
LATEST UPDATE 2024/
Select the sectors that are part of the LVMH ecosystem - CORRECT ANSWER - Fashion & leather goods
- Wines & spirits
- perfumes & cosmetics How many maisons are there within the LVMH group?
- 15
- 48
- 62
- More than 70 - CORRECT ANSWER More than 70 What is the name of the division conglomerating all of LVMH's wines & spirits brands?
- Moët Hennessy
- Clos des Lambrays
- LVMH W&S
- Hennessy - CORRECT ANSWER Moët Hennessy Select the oldest Maison among the LVMH Wines & Spirits brands?
- Belvedere
- Clos Des Lambrays
- Terrazas Des Los Andes
- Glenmorangie - CORRECT ANSWER Clos Des Lambrays What is the business sector generating the highest share of revenues in 2020?
- Selective retailing
- Fashion & leather goods
- Wines & spirits
- Perfumes & cosmetics - CORRECT ANSWER Fashion & leather goods How many stores do Fashion & Leather Goods Maisons manage?
- 102
- 223
- 5433
- +2000 - CORRECT ANSWER + Which was the first Perfume launched in 1947 by Christian Dior?
- Sauvage
- J'Adore
- Miss Dior - CORRECT ANSWER Miss Dior
What are the core values of LVMH? - CORRECT ANSWER Creativity & Innovation Entrepreneurial spirit Sense of commitment Quest for excellence Which of the following statements is NOT one of the 6 pillars of the LVMH business model?
- Centralized Organization Creating Synergies Sustaining Savoir-Fraire Balance across business segments and locations - CORRECT ANSWER Centralized Organization Among the four typologies of Chinese Consumers, which of the following groups are considered as key drivers within the international landscape?
- domestic chinese
- nomadic overseas chinese
- frequent outbound travellers
- overseas chinese - CORRECT ANSWER Nomadic overseas chinese Frequent outbound travellers Select two sentences that represent innovation at LVMH?
- It enables to improve products and customers' experiences
- With innovation, we must compromise with quality
- It helps come up with new solutions that contribute to a better tomorrow - CORRECT ANSWER It enables to improve products and customers' experiences It helps come up with new solutions that contribute to a better tomorrow What are the main challenges of innovation for a Maison?
- Innovation is too expensive
- Dealing with time and find the right pace of innovation
- The human touch within the tech world - CORRECT ANSWER Dealing with time and find the right pace of innovation The human touch within the tech world Which characteristics may help to measure the luxuriousness of an offer?
- price
- scarcity
- quality
- signed by brands - CORRECT ANSWER price scarcity quality signed by brands
- By launching new products everyday - CORRECT ANSWER By mastering their distribution To remain relevant, what values must brands respect?
- Sustainability
- Inclusivity
- Quality
- Exclusivity - CORRECT ANSWER Sustainability Inclusivity Quality What is one of the most important dimensions of Luxury for Serge Carreira?
- Scarcity
- Quality
- Time
- Identity - CORRECT ANSWER Time What are the three types of value created by brands and perceived by customers?
- Emotional value
- Social value
- Monetary value
- Functional value - CORRECT ANSWER Emotional value Social value
Functional value Emotional value...
- ...of a good, service or experience offered by a brand is based on the perceived utilitarian, or physical performance.
- ... is the perceived value acquired from the association with one or more specific social groups.
- ... is the perceived value acquired from the association with one or more specific social groups.
- None of the above - CORRECT ANSWER ... is the perceived value acquired from the association with one or more specific social groups. 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 or no? - CORRECT ANSWER Yes Which of the following are part of LVMH's LIFE 360 Program to positively impact the environment?
- Protect Biodiversity
- Fight Climate Change
- Circular Economy
- Transparency - CORRECT ANSWER Protect Biodiversity Fight Climate Change
- Respecting the uniqueness of our employees
- Passing on and developing savoir-faire
- Supporting our employees by improving their safety and well-being
- Providing access to digital for all - CORRECT ANSWER Providing access to digital for all What is equity about?
- It's about demographic difference
- It's about the organization's culture and social climate
- It's about fairness based on individuals' varying life experiences
- None of the above - CORRECT ANSWER It's about fairness based on individuals' varying life experiences How can you help your (future) organization harness diversity in a way that promotes greater inclusion?
- Being aware that out-group bias exists and we are all prone to it
- Being open to difference and learning helps counteract exclusion
- Acting as an ally when you see inequity or exclusion
- All of the above - CORRECT ANSWER All of the above The circular economy is a free market system in which temporary positions are common and organizations hire independent workers for short-term commitments. True False - CORRECT ANSWER False
The goal of the IME (Institut des Metiers d'Excellence) is to...
- Protect Biodiversity
- Transmit savoir-faire
- Empower local communities
- All of the above - CORRECT ANSWER Transmit savoir-faire Which of the following statements are Guerlain's nature-driven guiding principles?
- Innovating sustainability
- Preserving biodiversity
- Acting for Climate
- Creating positive social impact - CORRECT ANSWER - Innovating sustainability
- Preserving biodiversity
- Acting for Climate
- Creating positive social impact Yes or No: "Creativity is only about Sketches, Design and Images" - CORRECT ANSWER No According to Alice Litscher, what are the 3 steps of the creative processing?
- Concepting - Experimentation - Making
- Concepting - Making - Delivering
- All of the above - CORRECT ANSWER Heritage & values When talking about codes, a subtle signal could be...
- A color
- An emblem
- A shape
- A print - CORRECT ANSWER A color An emblem A shape A print Among the followings, which ones are features of product superiority according to Anne Michaud from HEC Paris? Select several proposals
- Exceptional Design
- Basic raw materials
- Craftsmanship
- All of the above - CORRECT ANSWER Exceptional Design & craftsmanship "In a store, decoration is the only element that will allow the customer to feel the brand's DNA." Yes or NO - CORRECT ANSWER No
According to Carole Bildé, her first role as Marketing and Communication Director for Veuve Clicquot is to...
- develop relationships with the retailers
- engage customers and make Veuve Clicquot the most desirable Champagne brand create new productsChampagne brand
- create new products - CORRECT ANSWER engage customers and make Veuve Clicquot the most desirable Champagne brand Veuve Clicquot has a key code that is an asset of identity and recognition:
- A grape
- The Bold Programme
- The orangish-yellow color - CORRECT ANSWER The orangish-yellow color When talking about codes, luxury consumers are now looking for...
- Loud signals or codes
- More discreet ways of expressing themselves - CORRECT ANSWER More discreet ways of expressing themselves A key asset for Sephora branding is its rich and inclusive offer Yes or No - CORRECT ANSWER Yes
- Celebrating the brand
- Nurturing client's emotion
- None of the above - CORRECT ANSWER - Magnifying the product
- Celebrating the brand
- Nurturing client's emotion Gamification is a way for luxury brands to get closer to a younger clientele Yes No - CORRECT ANSWER Yes Select the five key success factors of a successful customer experience Customized Face to face focused Elevating Memorable Involving Relevant - CORRECT ANSWER - Customized
- Elevating
- Memorable
- Involving
- Relevant (Think CRIME)
According to Emanuela Prandelli from Bocconi University, the next frontier of omnichannel customer engagement will probably come from the recent developments of non-fungible tokens Yes No - 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:
- a few stores in a limited number of cities in the world
- a target of few privileged people who had physical access to those stores
- the promotion of scarcity and exclusivity - CORRECT ANSWER - a few stores in a limited number of cities in the world
- a target of few privileged people who had physical access to those stores
- the promotion of scarcity and exclusivity What are the main rules to follow when it comes to customer experience?
- Customer first
- Brand consistency
- Connection with customers
- All of the above - CORRECT ANSWER All of the above How can a brand develop its customer loyalty? Through...
- People About the customer experience: the COVID crisis has been an incredible accelerator of the shift from transaction to personalized service Yes No - CORRECT ANSWER Yes What are the main qualities to succeed as a store manager?
- You need to have an insatiable curiosity for products
- You need to like people
- You need skills in storytelling
- You need to be passionate - CORRECT ANSWER - You need to have an insatiable curiosity for products
- You need to like people
- You need skills in storytelling
- You need to be passionate How many stores does LVMH have around the world?
- 2,
- 3,
- 4,
- 5,000 - CORRECT ANSWER 5,
What are the 2 main roles of store managers?
- Providing a lasting experience with their clients
- Buying raw materials
- Creating products
- Developing their team - CORRECT ANSWER - Providing a lasting experience with their clients
- Developing their team When it comes to retail, what objectives do data and AI serve?
- Automating tasks to improve customer satisfaction
- Optimizing the retail space
- Personalizing the customer experience
- None of the above - CORRECT ANSWER - Automating tasks to improve customer satisfaction
- Optimizing the retail space
- Personalizing the customer experience What percentage of LVMH's talents worldwide work in retail?
- 15%
- 30%
- 50%
- 67% - CORRECT ANSWER 50% CHAUMET
