Smart technology can provide manufacturers with opportunities to enhance their customers' experience by integrating solutions related to troubleshooting on the one hand and optimizing performance on the other hand. Smart technology is attractive for end-users for the interactivity and feedback it creates between product, user and service provider.
The underlying principle consists of virtual communication via sensors integrated into the product that are activated when operated. In such a way, information about the usage of products by end-users is gathered directly by manufacturers.
From a strategic point of view, this enables manufacturers to compete with retailers and the owners of technology platforms, who have dominated the battle for customer loyalty until so far.
Retailers thrive for instance with the use of loyalty cards, which facilitate gathering customer data while enabling targeted discount campaigns. Online platforms such as Amazon benefit from smart technology in
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