ANSWERS INSIDE LVMH CERTIFICATE MAY 2023, Prove d'esame di Brand Management

Scarica ANSWERS INSIDE LVMH CERTIFICATE MAY 2023 e più Prove d'esame in PDF di Brand Management solo su Docsity! INSIDE LVMH CERTIFICATE MAY 2023 correct answers MODULE 1: LVMH & The Luxury Industry MODULE 2: Luxury & Sustainability MODULE 3:Creation & Branding MODULE 4: Retail & Customer Experience FINAL QUIZ MODULE 1: LVMH & The Luxury Industry 1.Select the sectors that are part of the LVMH ecosystem: Fashion & Leather Goods Wines & Spirits Perfumes & Cosmetics 2. How many Maisons are there within the LVMH Group? More than 70 3. What is the name of the division conglomerating all of LVMH's Wines & Spirits brands? Moët Hennessey 4. Select the oldest Maison among the LVMH Wines & Spirits brands Clos Des Lambrays 5. What is the business sector generating the highest share of revenues in 2020? Selective Retailling Fashion & Leather Goods 6. How many stores do Fashion & Leather Goods Maisons manage? +2000 7. Which was the first Perfume launched in 1947 by Christian Dior? Miss Dior 8. What is the weight of the Perfumes activity in the Perfumes & Cosmetics division? 35% 9. Select the latest Maison who joined the LVMH Watches & Jewelry division Tiffany&CO 10. Among the following activities, which one(s) can you find in the Other Activities sector? Culture, Art, Lifestyle, Hospitality 11. What are the core values of LVMH? Creativity & Innovation Entrepreneurial spirit Quest for excellence Sense of commitment 12. Which of the following statements is NOT one of the 6 pillars of the LVMH business model? Centralized organization Creating Synergies Sustaining Savoir-Faire Balance across business segments and locations 13. Among the 4 typologies of Chinese consumers, which of the following groups are considered as key drivers within the international landscape? Frequent outbound travellers Nomadic overseas Chinese Domestic Chinese Overseas Chinese 14. 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 15. What are the two main challenges of innovaton for a maison? Innovation is too expensive Dealing with time and find the right pace of innovation The human touch within the tech world 16. Which characteristics may help to measure the luxuriousness of an offer? Price, Quality, Scarcity and Signed by brands The Life Cycle Assessment (LCA) is a methodology assessing the environmental impacts that are associated with the whole life cycle of a product, process or service. Correct answeri How is Parfums Christian Dior committed to protect flowers? Incorrect answer! Correction by cultivating flowers on a regenerative way within the upstream supply chain by helping reintroduce flowers into agricultural ecosystems Louis Vuitton launched in 2020 its Committed Journey program, with an environmental roadmap based on three pillars. Correct answeri Responsibly source all raw materials Fight against climate change through ambitious actions to decrease carbon emissione Foster sustainable viticulture Deploy circular creativity processes Which of the following are part of LVMH's LIFE 360 Program to positively impact the environment? TR 3 Correct answer! Protect Biodiversity Fight Climate Change Creative Circularity Traceability and Transparency What is the goal of the Bee Respect platform? Choose one answer Correct answer! A platform that aims at protecting fauna A platform that brings together different and flora LVMH employees arcund the world to promote inclusion A platform that offers more transpareney None of the above on the supply chain and whole life cycles of Guerlain products How can you help your (future) organisation harness diversity in a way that promotes greater inclusion? Choose one answer only Correct answer! Being aware that out-group bias exists Being open to difference and learning ‘and we are all prone to it helps counteract exclusion Acting as an ally when you see inequity or © Allofthe above exclusion The goal of the IME (Institut des Metiers d'Excellence) is to... Choose one answer Correct answer! Protect Biodiversity Transmit savoir-faire Empower local communities All of the above  MODULE 3: Creation & Branding Creation & Branding - Promotion May 2023 - GP 2 According to Fabrizio Buonamassa from Bvlgari, design can be seen as art applied to industry. Correct answeri No At Louis Vuitton, what does every design project start with? Correct answeri Ressarching Prototypina Making Delivering What fields are included in the ASCEND framework presented by Thomai Serdari which organises the understanding of creativity? Correct answerl © Engineering Science D At © Design At Hublot, what are the three functions a watchmaker holds? Correct answert © Designer Project Manager Sales advisor © Draftsman Merchandiser According to Nina Cooper from Parfums Christian Dior, a key challenge in the omnichannel world is to talk to different customers through various channels while conveying the same message. Correct answeri © Agree Disagree Based on the brand management stories from some of the LVMH Maisons, choose appropriate proposals for brands to attract and engage customers. Incorreet answeri Correction Reflact strong values and commitment a Dalivar strategies aligned with the DNA of the brand Activate omnichannel plans The four pillars of Sephora's brand are: Innovation, Curation, Customer Obsession, Celebration. Incorrect answer! Correction Agree Disagree Brand Management always starts by understanding the brand, what makes it unique and relevant for customers. Incorreet answer! Correction n Agree Disagrae  MODULE 4: Retail & Customer Experience Retail & Customer Experience - Promotion May 2023 - GP 2 A key stake of the luxury retail is to offer exceptional customer experiences. + È Correct answer! l agree | disagree Select the key success factors of a best-in-class customer experience. Correct answer! Customised Face-to-face focused © Élevating © Memorable involving EI Relevant 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 b: Correct answer! © afewstores ina limited number of cities in the world E atargetoffew privileged people who had physical access to those stores © thepromotion of scarcity and exclusivity Gamification is a way for luxury brands to get closer to a younger clientele, Correct answert According to Anne Michaut from HEC Paris, what are the purposes of retail today? Choose at least Correct answer! Magnifying the product Celebrating the brand Nurturing clients emotion Developing new products In transitioning from multi-channel to omni-channel, Wendy Chan shares the 3 critical pillars for success: Choose t Correct answer! Data um Prices People How many stores does LVMH have around the world? Select one proposal Correct answer! 2,000 3,000 4,000 5,500+ INSIDE LVMH Certificate final quiz Promotion May 2023 - GP 2 Quiz results "The Final quiz" Success rate: 97% 4 FINAL QUIZ Which of the following statements are pillars of the LVMH Business Model? Selec Correct answert Decentralised organisation Creating Synergies Sustaining Savoir-Faire Balance across business segments andlocations According to Bain & Company, by 2030 and within the personal luxury goods market, the online sales will represent... Select one answer Correct answer! 15% ofthe luxury sales 33% ofthe luxury sales 55% of the luxury sales According to Bain & Company, the personal luxury goods market will decrease by 15% through 2030. Select one answer Correct answer! True False At LVMH, omnichannel is a client-centric approach aimed at providing a consistent, qualitative and seamless customer experience across all channels and geographies. Select one answer Correct answer! According to the Digital Innovation Director at Louis Vuitton, the two major challenges of innovation in the luxury sector are: integrating human touch and finding the right pace. Select one answer Correct answerl l agree | disagree Which of the following proposals are part of the 7 essential characteristics that help measure the luxuriousness of an offer? it several answers. Incorrect answer! Correction Quality Scarcity Personalised services Controlled channels Eco-conscious customers are adapting their consumption by rethinking the products as a service, by rediscovering vintage products and by seeking eco-transparency from brands. Select one answer Correct answer! True False The protection of natural ecosystems has always been of utmost importance to LVMH, whose activity is reliant on natural raw materials. Please select the natural raw materials that LVMH is using. Select several answers. Correct answer! Flowers Grapes Cotton Leather A brand DNA is based on... Select two answers. Correct answer! Heritage New customer expectations Values Among the following, which ones are sources of inspiration for designers? Select one answer Correct answer! Childhood The brand legacy Artistic fields All ofthe above Every design project should begin with prototyping. Select one answer Correct answer! True False Brand management's key stake is to... Select one answer Correct answer! develop the desirability of the brand develop e-commerce strategies A brand DNA is crucial for Maisons as it directly impacts: Select several answers. Correct answer! the product development the communication the retailing the organization Thanks to its iconic colour, Veuve Clicquot has a strong identity. Which colour is it? Select one answer Correct answer! The Clicquot Blue Black and White stripes The Clicquot Yellow According to Sephora's Global Chief Brand Officer, brand management starts by understanding the brand, its uniqueness, and relevance for customers. Select one answer Correct answer! Agree Disagree "Creativity is a discussion, not a monologue". Do you agree with this statement? Select one answer Correct answer! No How can a brand develop its customer loyalty? Through... Sele Correct answert Clienteling programs Partnership with other Maisons Dedicated events Services According to the Global Retail Experience Director at Guerlain, which of the following pillars create a connection with customers? at apply. Selectall answi Correct answer! Place and retail design Customer programs Store teams Even though today it is necessary to provide seamless customer experiences, omnichannel and data acceleration are not that important at LVMH. Select one answer, Correct answer! True False