Exam (elaborations)
LVMH QUESTIONS AND ANSWERS
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LVMH QUESTIONS AND ANSWERS
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Name: Score:27 Multiple choice questions
Definition 1 of 27
It is a strategy consulting firm particularly known for publishing and annual market study which
has become a reference for luxury executives as well as journalists and financial analysts.
Bain & Company
Mckinsey & Company
Accenture strategy
Roland berger
Definition 2 of 27
Art applied to industry.
Creative Process
Design
Brand
Style
,Definition 3 of 27
- It is defined by the extraordinary, the exception that differ from person to person.
- Economic definition : expensive products or services, priced above their functional value.
- Access to hedonistic, very high quality objects, experiences and personal services sold at a
price far beyond what their functional value would command, which represent sources of a
sense of privilege, taste and refinement and produce recognition by relevant others, due to
the power of the brand.
LVMH
Luxury
Luxury goods
Equity
Definition 4 of 27
It refers to the demographic difference or the ways that people differ from each other.
Diversity
Creativity
Environmental Sustainability
Culture
Definition 5 of 27
susciter, éveiller
to remain
to arouse
to foster
to revise
,Definition 6 of 27
- Created in 1987
Key figures
Luxury goods
4 key values of lvmh
Key dates
Definition 7 of 27
1. Quality
Referring to the long lasting characteristic of luxury goods and to their design and aesthetic
appeal, but also the craftmanship.
2. Scarcity
3. Delivering experiential rewards
4. Signed by brands
5. Controlled channels
6. Personalized services
7. Price
Sustainability / Sustainable development
4 pillars : Inspire, Challenge, Connect, Support
4 pillars of LVMH's social responsibility
7 essential characteristics of luxury offering
, Definition 8 of 27
It means creating fair access, opportunity and advancement for all.
Assets
Diversity
Equity
Profit
Definition 9 of 27
1. Being creative and innovative
2. Delivering excellence
3. Cultivating an entrepreneurial spirit
4. Commitment: taking action to make a difference
Brand values are strongly linked to society and consumers
Creativity
6 business sectors
4 key values of LVMH
Definition 10 of 27
une garde-robe
design
an armchair
a wardrobe
luxury
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