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RateBoard celebrates
Prof. Dr. Kai-Markus Müller
as the new “Chief of Behavioral Strategy"

 

What a benefit for RateBoard's team, our software and our customers: it fills us with great joy to welcome Prof. Dr. Kai-Markus Müller as the new Chief of Behavioral Strategy! Working with one of the most renowned experts in the field of price psychology promises not only innovative impulses, but also a profound integration of customer behavior and price perception into RateBoard's products and training courses.

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Kai-Markus Müller, Professor of Consumer Behavior at the HFU Business School, brings impressive success stories and extensive knowledge in the area of price psychology. His expertise extends to the influences of psychology on price perception and consumer decisions. Its groundbreaking research tool, NeuroPricing™, uses EEG brain scans and reaction times to analyze willingness to pay and takes pricing to a new level. As Director of Pricing Research at Neurensics, a leading international agency for consumer neuroscience, Kai-Markus Müller has driven pioneering research and development in neuroscientific and digital pricing. He has already demonstrated his expertise at well-known companies such as Audi, Coca-Cola, Adidas, Roche and many others.

Prof. Dr. Müller is really looking forward to his new challenge and says:

“In the last few decades, two specialist areas have developed significantly in parallel but independently of each other: on the one hand, neuro- and behavioral economics including behavioral pricing and on the other hand, the digitalization of price management, especially in the area dynamic pricing. For me, both in my role as a scientist and as an entrepreneur, merging these two disciplines with the help of the latest advances in artificial intelligence represents an extraordinary opportunity to realize a long-held dream.

I am therefore particularly looking forward to my new role with the extremely friendly and competent team at RateBoard!”

 

He will now take on a key role at RateBoard, integrating his unparalleled expertise into RateBoard's revenue management system. Such an integration of high-level neuroscientific research is an absolute novelty in the hotel industry and exclusive to RateBoard. Not only RateBoard's customers, but the entire industry will benefit from regular keynote speeches and scientific publications.

Matthias Trenkwalder, CEO at RateBoard, says this about the company's new milestone:

“Booking a summer vacation is probably one of the most emotional decisions of the year - it is definitely not made according to the principle of homo economicus. RateBoard already supports 1,300 hotels in revenue management, though Prof. Dr. Kai-Markus Müller's background gives us deeper insights into the emotional and cognitive processes that play a role in the booking decision.

By integrating the latest findings in the field of neuroscience, we can develop more targeted approaches for our customers to communicate prices and offers more successfully and present them in the booking process. We look forward to the opportunity to push the boundaries of pricing in the hotel industry and create unique competitive advantages for our customers through the use of AI and neuroscience approaches.”

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Prof. Dr. Müller will play a crucial role in establishing RateBoard as a pioneer in behavioral strategy among revenue management systems. The partnership promises not only innovative approaches to pricing and behavioral strategy, but also a sustainable exchange of knowledge between one of the leading minds in his field and an innovative company like RateBoard. We look forward to an exciting journey full of insights, advances and groundbreaking developments under the leadership of Prof. Dr. Kai-Markus Müller as Chief of Behavioral Strategy at RateBoard!

 

If you'd like to learn more about Prof. Dr. Kai-Markus Müller, the collaboration, and the impact for RateBoard, then contact us.

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