Research on ontology building and pricing of customized product

Manufacturing industry servicing has become a main trend of manufacturing enterprises. These enterprises provide customized products to satisfy personalization demand. The emergence of customized products aims to maximize revenue on the base of no capacity change, while improving customer satisfaction and customer loyalty. In fact, customers don´t know about the details of products, and their descriptions to products are in difference. On account of providing a scientific basis for reasonable pricing, ontology matching and mapping between customer demand ontology CDO and product configuration ontology PCO should be realized. How to recognize customers´ fuzzy and less formal descriptions for demand accurately is a fundamental issue. This paper solves this issue by ontology and revenue management. Customer demand ontology is built by inputting customers´ fuzzy descriptions, and then matches semantic similarity with product configuration ontology to calculating product customized degree. Calculating the optimal price under different customized degree by using the profit maximization model of revenue management can give guidance suggestions to enterprises.