Inside LVMH Final Quiz Latest Questions and Correct Answers, Exams of Environmental Engineering

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Inside LVMH Final Quiz Latest Questions and

Correct Answers

"Creativity is a discussion, not a monologue." Do you agree with this statement - CORRECT ANSWER Yes A brand DNA is based on - CORRECT ANSWER - Heritage

• Values About the customer experience: the COVID crisis has been an incredible accelerator of the shift from transaction to personalised service - CORRECT ANSWER Yes According to Alice Litscher, what are the 3 steps of the creative process? - CORRECT ANSWER Collecting - Experimental- Making 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 According to Bain & Company, by 2025 online sales will represent - CORRECT ANSWER More than 30% of the luxury sales According to Bain & Company, the role of the store will need to transform from transaction- centric to relationship-centric - CORRECT ANSWER Yes 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 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

• Art
• Lifestyle
• Hospitality 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 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 Among the following, which ones are features of product superiority according to Anne Michaut from HEC Paris? - CORRECT ANSWER - Exceptional Design
• Craftsmanship Among the following, which ones are sources of inspiration for designers? - CORRECT ANSWER - Childhood
• Artistic fields
• the brand legacy 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 At Guerlain, what are the three pillars that create a connection with customers? - CORRECT ANSWER - Store teams
• Customer programs
• Place and retail design 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 At Louis Vuitton, what does every design project start 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 Blockchain cannot enable following and securing the whole product life-cycle from sourcing to shelf - CORRECT ANSWER False Brand management's key stake is to - CORRECT ANSWER - Develop the desirability of the brand. 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

• 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. Gamification is a way for luxury brands to get closer to a younger clientele - CORRECT ANSWER Yes 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 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 How can a brand develop its customer loyalty? Through - CORRECT ANSWER - Clientelling programs
• Partnership with other maisons
• Dedicated events
• Services

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. How many employees work at LVMH? - CORRECT ANSWER 175, How many Maison are these with in the LVMH Group? - CORRECT ANSWER More than 75 How many stores does LVMH manage? - CORRECT ANSWER 5, In China, Luxury Beauty brands entered E-commerce with market places - CORRECT ANSWER Yes In store, decoration is the only element that will allow the customer to feel the brand's DNA - CORRECT ANSWER No In transitioning from multi-channel to omni-channel, Wendy Chan shares the 3 critical pillars for success: - CORRECT ANSWER Data IT People Is sustainability the biggest challenge for the luxury industry? - CORRECT ANSWER Yes, say experts from Guerlain and Louis Vuitton

Select the latest Maison who joined the LVMH Watches & Jewelry division. - CORRECT ANSWER Tiffany & Co 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 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 The Chinese consumers will reach by 2025 - CORRECT ANSWER 46 to 48% of global Luxury Goods Purchase 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 circular economy is an economic system aimed at reducing waste and the continual use of resources - CORRECT ANSWER Yes The environment is the key to the future of luxury. - CORRECT ANSWER LVMH drives biodiversity, climate change, traceability and circulating The goal of the IME (Institut des Metiers d' Excellence) is to - CORRECT ANSWER Transmit savoir-faire The Second Pau Ruinart initiative aims at promoting Sustainable innovation by rethinking the way Ruinart produces champagne - CORRECT ANSWER False To remain relevant, what values must brands respect? - CORRECT ANSWER - Sustainability

• Quality
• Inclusivity Transparency is about being able to trace materials from their origins and through each step of their transformation - CORRECT ANSWER Yes 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 What are the 2 main roles of store managers? - CORRECT ANSWER - Providing a lasting experience with their clients
• Developing their team What are the core values of LVMH? - CORRECT ANSWER - Creativity & Innovation
• Entrepreneurial Spirit
• Quest for excellence
• Sense of commitment 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 What are the key drivers for selective retailing maisons? - CORRECT ANSWER - Constant innovation

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

• Connection with customers
• Brand consistency What are the two major challenges of innovation in the luxury sector? - CORRECT ANSWER - Integrating human touch
• Finding the right place What business sector generated the highest share of revenues in 2021? - CORRECT ANSWER fashion & leather goods 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 What fields are included in the ASCEND framework presented by Thomas Serdan which organises the understanding of creativity? - CORRECT ANSWER Arts, Science, Engineering, Design What is equity about? - CORRECT ANSWER It's about fairness based on individuals varying life experiences. What is one of the most important dimensions of Luxury for Serge Carreira? - CORRECT ANSWER True

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 When creating a new perfume, Thierry Wasser first tries to - CORRECT ANSWER Understand where the concept of the perfume comes from. 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 When talking about codes, a subtle signal could be - CORRECT ANSWER - A color
• An emblem
• A shape
• A print Which characteristics may help to measure the luxuriousness of an offer? - CORRECT ANSWER - Price
• Quality
• Scarcity
• Signed by brands Which is the latest Maison created in the Perfumes & Cosmetics division? - CORRECT ANSWER STELLA by Stella McCartney

• Decentralized organization 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 Which of the following statements are pillars of the LVMH? - CORRECT ANSWER - Sustaining savoir-faire
• Creating Synergies
• Balance across business segments and locations Which was the first Perfume launched in 1947 by Christian Dior? - CORRECT ANSWER Miss Dior