Smart Products
<p>via <a href="https://en.wikipedia.org/wiki/Smart_products">wikipedia</a>:
"Recent innovations in <a href="https://en.wikipedia.org/wiki/Mobile_technology" title="Mobile technology">mobile</a> and <a href="https://en.wikipedia.org/wiki/Sensor" title="Sensor">sensor</a> technologies allow for creating a digital representation of almost any physical entity and its parameters over time at any place. <a href="https://en.wikipedia.org/wiki/RFID" class="mw-redirect" title="RFID">RFID</a> technologies, for instance, are used to ground digital representations, which are used to track and geo-reference physical entities. In general, physical worlds and digital representations become tightly interconnected, so that manipulations in either would have effect on the other.
Integration of information and communication technologies into products anywhere and anytime enable new forms of <a href="https://en.wikipedia.org/wiki/Mobile_marketing" title="Mobile marketing">mobile marketing</a> in respect to situated marketing communication, dynamic <a href="https://en.wikipedia.org/wiki/Pricing" title="Pricing">pricing</a> models and dynamic <a href="https://en.wikipedia.org/wiki/Product_differentiation" title="Product differentiation">product differentiation</a> models. As Fano and Gershman state: "Technology enables service providers to make the location of their customers the location of their business".<sup id="cite_ref-1" class="reference"><a href="https://en.wikipedia.org/wiki/Smart_products#cite_note-1">[1]</a></sup>
<b>Smart products</b> are specializations of hybrid products with physical realizations of product categories and digital product descriptions that provide the following characteristics:</p>
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<li><a href="https://en.wikipedia.org/wiki/Situated" title="Situated">Situated</a>: recognition and processing of situational and community contexts</li>
<li><a href="https://en.wikipedia.org/wiki/Personalized" class="mw-redirect" title="Personalized">Personalized</a>: tailoring to buyer's and consumer's needs and affects</li>
<li>Adaptive: change according to buyer's and consumer's responses and tasks</li>
<li>Pro-active: attempt to anticipate buyer's and consumer's plans and <a href="https://en.wikipedia.org/wiki/Intention" title="Intention">intentions</a></li>
<li>Business aware: considering business and legal constraints</li>
<li>Location aware: considering functional performing and restricted location choice</li>
<li>Network capable: ability to communicate and bundle (<a href="https://en.wikipedia.org/wiki/Product_bundling" title="Product bundling">product bundling</a>) with another <a href="https://en.wikipedia.org/wiki/Product_(business)" title="Product (business)">product (business)</a> or product sets</li>
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<p >The vision of smart products poses questions relevant to various research areas, including <a href="https://en.wikipedia.org/wiki/Marketing" title="Marketing">marketing</a>, <a href="https://en.wikipedia.org/wiki/Product_engineering" title="Product engineering">product engineering</a>, <a href="https://en.wikipedia.org/wiki/Computer_science" title="Computer science">computer science</a>, <a href="https://en.wikipedia.org/wiki/Artificial_intelligence" title="Artificial intelligence">artificial intelligence</a>, <a href="https://en.wikipedia.org/wiki/Economics" title="Economics">economics</a>, <a href="https://en.wikipedia.org/wiki/Communication_science" class="mw-redirect" title="Communication science">communication science</a>, <a href="https://en.wikipedia.org/wiki/Media_economics" title="Media economics">media economics</a>, <a href="https://en.wikipedia.org/wiki/Cognitive_science" title="Cognitive science">cognitive science</a>, <a href="https://en.wikipedia.org/wiki/Consumer_psychology" class="mw-redirect" title="Consumer psychology">consumer psychology</a>, <a href="https://en.wikipedia.org/wiki/Innovation_management" title="">innovation management</a> and many more.
Since smart products combine a physical product with additional services, they are a form of <a href="https://en.wikipedia.org/wiki/Product_service_system" class="mw-redirect" title="Product service system">product service system</a>."</p>