7 results about "Smart products" patented technology

Recent innovations in mobile and sensor technologies allow for creating a digital representation of almost any physical entity and its parameters over time at any place. RFID 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 mobile marketing in respect to situated marketing communication, dynamic pricing models and dynamic product differentiation models. As Fano and Gershman state: “Technology enables service providers to make the location of their customers the location of their business”. Smart products are specializations of hybrid products with physical realizations of product categories and digital product descriptions that provide the following characteristics: Situated: recognition and processing of situational and community contexts Personalized: tailoring to buyer’s and consumer’s needs and affects