Industry paper Term Example | Topics and Well Written Essays - 1000 words

Industry - Term Paper Example When it comes to customer needs and wants, it is worth noting that the world sports apparel is expected to exceed $ 12 billion by 2015; this is according to the (BMI Research, 2015). The demand for the apparel sportswear is the protective package it comes with. Consumers of the product have the need to feel comfortable while in the attire. The flexibility of product must also be convenient enough to ensure that they perform to their best. Other needs include; the need to preserve energy, to increase the blood flow during the action as well as muscle recovery and protection from body injury. The customers also have the want to look and feel fashionable while playing their apparel (NPD Group, 2015). The introduction of high-tech fabrics is one of the major technological changes in the industry. Introduction of high-tech fabrics have had significant influences on the industry in terms of increased investments in research and development as well as manufacturing costs. This is because the new developments require special techniques and special materials for production (Companies and Markets, 2014). The major players in this industry include Lululemon, Adidas, Reebok, Puma, and Under Armour. The players are forced to re-invent their production systems in terms of the kind of materials they use to manufacture sports products and technology that they employ in their production processes. In addition, long-term investment plans such as collaboration with major global distributors of sporting apparel in order to remain competitive in the industry. The players are only able to achieve this by moving in tandem with the growth in technology and providing the required apparel to the consumers (Global Industrial Analysis 2015). Some of these technological changes are briefly discussed below Essentially, Lululemon Athletica embraces technology in a