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Technology and product strategy have always go hand in hand as the former could exert tremendous influence on the success of the later one. Marketers have relied on multiple technologies to brand their products and formulate strategies for their products to win the market. Each technology has its unique impact and support towards specific products that deem compatible. As technology keeps evolving, so will the product strategies along with customer expectations and demand. In recent years, two of the newest technologies, virtual and augmented realities have caught my attention. In fact, I am quiet fascinated by what these two technologies can bring to the world. As the adoption rate gradually increases and diffuses into multiple industries, it is of my interest to perform the research study that would focus on the potential of the technologies in relation to the current product strategies within specific industries as well as the final impact it will have on product strategies and what firm should do to cope with the situation. This study will concentrate on three specific industries to work with and each will dive into the application and influence of augmented and virtual realities. Through literature review and the analysis of case study and research paper, insights will be uncovered to recognize the impact, the need for change and what the new product strategies should be to stay align with both the technologies and consumer expectation.
Keyword: Augmented Reality, Virtual Reality, Product Strategy, Education, Tourism, Offline Retail, Impact, Experience, Engagement, Immersion.

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