RFID technology is an important component of my product. For this product the consumer would need to buy two components: the product, and the tag reader. The tag reader would be a handheld device similar in size to a bar code scanner. When the consumer loses his keys in his house with a track-it-all keychain attached to it, the consumer could use the tag reader to track the location of the keys. The use of RFID technology will only be limited though, because a RFID tag can only transmit up to 15 feet. However, since most people lose their keys in a place where they spend a lot of time in, it will help in many situations.

An RFID chip has many advantages. It costs less than a nickel to produce and is the size of a grain of sand. It is highly portable and does not need an energy source to work. It does, however, pose many disadvantages as well. The reader costs considerably more than the tag, and the tag can only be identified up to 15 feet away from the reader. This technology will only be used in homes. If the consumer loses his keys outside of the home, he'd need other technologies to find it, particularly GPS and wi-fi.