Abstract
This research aims at investigating the role and function of smart materials as a flexible approach in developing innovative products, and their impact on companies’ performance. The paper first elaborates smart materials as a new trend in technology, by further identifying types of smart materials. Supplementary, some benefits of using smart materials in companies are named, especially for a case study on using smart paint and coating for producing innovative product. The concluding part responds to the question: How will product innovation by means of smart materials improve companies’ performance?
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