QUESTIONS WITH CORRECT ANSWERS
GUARANTEED PASS
◉ Which characteristics may help to measure the luxuriousness of
an offer? Answer: - Price
- Quality
- Scarcity
- Signed by brands
◉ What challenges can you be faced with when innovating in the
luxury sector? Answer: - Integrating the human sensibility within
innovation
- Finding the right pace of innovation implementing all of the newest
tech innovations quickly
◉ How are eco-conscious customers adapting their consumption?
Answer: - Rediscovering vintage products
-Rethinking the products as a service (rental) and not only a good to
own
,◉ Consumers place a greater value on customised products because
it answers their need for uniqueness Answer: True
◉ From creating value to expressing value-what are the key
principles of luxury? Answer: - 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 is one of the most important dimensions of Luxury for Serge
Carreira? Answer: True
◉ Emotional value... Answer: 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.
, ◉ To remain relevant, what values must brands respect? Answer: -
Sustainability
- Quality
- Inclusivity
◉ Is sustainability the biggest challenge for the luxury industry?
Answer: Yes, say experts from Guerlain and Louis Vuitton
◉ The environment is the key to the future of luxury. Answer: LVMH
drives biodiversity, climate change, traceability and circulating
◉ 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 Answer: Yes
◉ Which of the following are part of LVMH's Life 360 Program to
positively impact the environment? Answer: - Protect Biodiversity
- Fight Climate Change
- Participate to the circular economy
- Offer transparency
◉ For Carole Collet, what are key principles for regenerative luxury
Answer: Transition to a regeneration culture where design can
actively reserve socio-ecological damage