Importance and potential of Neuromarketing for Brand Management in business-to-business Marketing

Table of contents

1 Introduction
1.1 Outline of the Issue
1.2 Objective
1.3 Methodology

2 Terminology and topical confinement
2.1 Brand
2.2 Marketing
2.3 B-to-B-Marketing and its characteristics
2.4 Neuromarketing and its limitations
2.5 Prospects of Neuromarketing

3 Basics of and findings from Neuromarketing
3.1 Structure and functioning of the human brain
3.1.1 The limbic system
3.1.1.1 Hippocampus and memory
3.1.1.2 Amygdala and emotions
3.1.2 Cognitive processing patterns
3.1.2.1 Consciousness – an exceptional state of the brain
3.1.2.2 Comparison with the unconscious
3.1.3 Information processing in the brain
3.1.3.1 Attention and involvement
3.1.3.2 Learning of advertising messages
3.1.3.3 The processing of a buying decision
3.2 Codes/cues – the four doorways to the customer’s brain
3.2.1 Code no. 1: Language
3.2.2 Code no. 2: Stories
3.2.3 Code no. 3: Symbols
3.2.4 Code no. 4: Sensory stimuli
3.3 Motives and motive systems
3.3.1 The three basic motives
3.3.2 The Limbic® approach

4 Implications of Neuromarketing for B-to-B-Marketing
4.1 Neuromarketing in regard to B-to-B characteristics
4.1.1 Derived demand
4.1.2 Factually rational decision-making criteria
4.1.3 Formalized decision processes
4.1.4 Collective decisions
4.1.5 Small number of buyers
4.1.6 Frequent and personal interaction
4.1.7 Long-term business relationships
4.1.8 Summary of the comparison
4.2 Implications for brand management
4.2.1 Brand’s effect on the brain
4.2.2 Emotionality of brands
4.2.3 Characteristics of strong brands
4.2.4 Creating a strong brand
4.2.5 Brand management in B-to-B
4.2.6 Brand communication in B-to-B

5 Application of Neuromarketing at Siemens
5.1 Siemens corporate brand strategy
5.1.1 Autonomy
5.1.2 Security
5.1.3 Excitement
5.2 Implementation of Neuromarketing at Siemens
5.2.1 Verbal codes
5.2.2 Episodic codes
5.2.3 Symbolic and sensory codes
5.3 Examples from Siemens’ “Answer” campaign
5.3.1 Paradoxical approach example
5.3.2 Personal approach example

6 Conclusion

7 Reference list

List of Figures

List of Tables

Glossary

Acknowledgements

Firstly, I would like to thank Prof. Dr. Michael Schugk for narrowing down the subject that led to this interesting topic as well as for his illuminating discussions. I am thankful to Gunter Ott and Stephan Hühne for their interest in my work, insights into design and corporate communication and for providing me with an advisor. For the few, but important, discussions and his valuable suggestions I am grateful to Jürgen Barthel as well. Atilla Vatansever I like to thank for providing me market research material. Thanks to Lawrence Davies and David Lohn for proofreading and hints regarding my usage of the English language. And last but not least I like to thank Carolin Sperber for her mental support.

Preface

"Zur Überzeugung des Verstandes kann die Schönheit eines Vortrags ebenso wenig beitragen, wie das geschmackvolle Arrangement einer Mahlzeit zur Sättigung der Gäste oder die äußere Eleganz eines Menschen zur Beurteilung seines inneren Wertes. Aber ebenso wie dort durch die schöne Anordnung der Tafel die Esslust gereizt und hier durch das Empfehlende im Äußeren eines Menschen die Aufmerksamkeit auf ihn überhaupt geweckt und geschärft wird, so werden wir durch eine reizende Darstellung der Wahrheit in eine günstige Stimmung versetzt, ihr unsere Seele zu öffnen, und Hindernisse in unserem Gemüt werden hinweggeräumt."^[1]

1 Introduction

1.1 Outline of the Issue

Business administration theory has dealt since its inception with the issue of providing practical support to corporate decision making. For their explanatory models, it has resourced the knowledge body provided by economics, philosophy, sociology, and psychology. In the last few years it increasingly draws also on the findings taken from neuroscience.^[2] By means of so-called imaging techniques, neuroscientists can conduct a deeper analysis of the relationships and processes in the brain. The question of how buying decisions occur, and how these may be influenced has finally created Neuromarketing.^[3] The findings from this research filed reveal that feelings and emotions play a much greater role than previously supposed and that these can be addressed through brands.^[4] However, the management of immaterial values ​​such as brands does not fit well with the predominantly engineering-oriented mindset of top management in B-to-B companies.^[5] In his preface to „B-to-B-Markenführung“, Klaus Backhaus states:

„Effektive und effiziente Markenpolitik ist in der Praxis des Business-to-Business-Marketing immer noch ein Stiefkind, auch wenn mittlerweile eine Reihe von wissenschaftlichen Veröffentlichungen bis hin zu Lehrbüchern zur Markenpolitik in diesem Bereich vorliegt. Einer der wesentlichen Gründe hierfür liegt sicherlich darin, dass der Business-to-Business-Bereich stark durch Personen mit einer technischen bzw. ingenieurwissenschaftlichen Ausbildung geprägt ist, die für ‚intangible assets’, wie sie die Marke darstellt, erfahrungsgemäß weniger Aufmerksamkeit aufbringen.“^[6]

Even though the purchase decision is made by the "Buying Center" in the B-to-B market, the assumption prevails that the findings from Neuromarketing can still be applied because this group consists of human beings as well.^[7]

1.2 Objective

The following study will consider the findings taken from Neuromarketing in the light of particular instances of B-to-B-Marketing. The question will be raised as to why and to what extent Neuromarketing is relevant for brand management in B-to-B-Marketing. The possibilities arising from this comparison will only be presented as examples and do not claim to be complete. An example from the Corporate Communication Sector at Siemens will be taken to display the application.

1.3 Methodology

Extensive scientific literature research, dissertations, the internet as well as market studies commissioned by Siemens have been consulted in the course of this study.

Firstly this study will give an overview of the definitions and approaches to the relevant subject areas and distinctions between other related areas and concepts. Following this, neuroscientific principles will be established in order to understand the processes which lead to a purchasing decision. The next chapter will study the methods and techniques regarding how purchasing decisions can be influenced. Then the special features of the B-to-B market will be compared in light of the preceding findings, and the resulting conclusions will be drawn. Finally, examples taken from the Corporate Communications Sector will be illustrated. The summary of the study will comprise a response to the research question which was raised in the introduction. The final words will contain a brief conclusion of the most important aspects of the study with personal remarks and assessments.

Gender-neutral formulations have been avoided on grounds of readability. Both genders are always meant within the text. Nevertheless gender-neutral formulations have been used wherever possible.

2 Terminology and topical confinement

The following will describe and delimit the relevant terminology for the subject such as the terms “Brand”, “Marketing”, “B-to-B-Marketing” and “Neuromarketing”.

2.1 Brand

Brands have long served as a means of identification of and differentiation between products. As long ago as in ancient Egypt, clay bricks were marked with symbols to indicate their consistent quality and identity.^[8] The German trademark law (MarkenG) describes a protectable trademark in § 3 MarkenG as follows:

„Als Marke können alle Zeichen, insbesondere Wörter einschließlich Personennamen, Abbildungen, Buchstaben, Zahlen, Hörzeichen, dreidimensionale Gestaltungen einschließlich der Form einer Ware oder ihrer Verpackung sowie sonstige Aufmachungen einschließlich Farben und Farbzusammenstellungen geschützt werden, die geeignet sind, Waren oder Dienstleistungen eines Unternehmens von denjenigen anderer Unternehmen zu unterscheiden.“^[9]

The American Marketing Association has a similar definition. It defines a brand as „a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competititors.“^[10]

As will be shown later on, these definitions are too narrowly considered. Therefore, we take an impact and demand based brand concept as the basis. Accordingly, a brand does not exist inherently nor is it constituted by the use of certain instruments or legal cover, but emerges from the minds of customers or other relevant target groups. Without an effect on the demand side it cannot be considered as a brand.^[11] Thus brands are mental images in the minds of the target groups, which undertake an identification and differentiation function and shape the purchasing behavior.^[12]

2.2 Marketing

What exactly defines the marketing core is the object of some controversy according to Backhaus.^[13] Has the market been a typical seller's market in the 1950s, it became a buyer's market in the 1970s and since the 1980s marketing is to construct a strategic competitive advantage over its competitors and to drive and defend the same in the market.^[14] The result is that in the course of the last decades both the significance and the mindset in marketing have experienced ongoing changes and developments.^[15] The central philosophy of marketing is clarified by Bruhn through the following definition:

„Marketing ist eine unternehmerische Denkhaltung. Sie konkretisiert sich in der Analyse, Planung, Umsetzung und Kontrolle sämtlicher interner und externer Unternehmensaktivitäten, die durch eine Ausrichtung der Unternehmensleistungen am Kundennutzen im Sinne einer konsequenten Kundenorientierung darauf abzielen, absatzmarktorientierte Unternehmensziele zu erreichen.“^[16]

Accordingly, marketing should be regarded as a market-oriented decision-making behavior within companies.^[17]

2.3 B-to-B-Marketing and its characteristics

Alongside the term B-to-B-Marketing the literature contains related and synonymous terms such as Capital goods or Industrial Goods Marketing and Industrial Marketing as well as the German terms “Industriegütermarketing” and “Investitionsgütermarketing”. Further developments and changes are also present here. For example Klaus Backhaus changed the title of his book “Investitionsgütermarketing” Capital Goods Marketing to “Industriegütermarketing” Industrial Goods Marketing.^[18]

The terms are not identical in meaning, as B-to-B-Marketing also includes wholesale and retail trade marketing.^[19] This distinction is not relevant for the consideration of Neuromarketing in B-to-B-Marketing. Therefore referring to Baumgarth, this study will use the term B-to-B as a short form for Business-to-Business.^[20] A Google query at google.de reveals that “Business-to-Business-Marketing” (383 million hits) and “B-to-B-Marketing” (141 million hits) are by far the most commonly used terms (“Industriegütermarketing”: 13.900; “Investitionsgütermarketing”: 10.700).^[21]

B-to-B-Marketing deals with the professional and usually organizational procurement and differs from Consumer Marketing mainly in the following aspects:

- High degree of formalization of the information and decision-making process^[22]
- High proportion of factual and rational decision-making criteria^[23]
- Collective decisions (Buying Center)^[24]
- Derived demand (needs and decision criteria resulting from downstream markets)^[25]
- Small number of purchasers (high market transparency, international or global markets)^[26]
- Frequent and personal interaction between business partners (lower importance of media-mediated communication)^[27]
- Long-term business relations (no one-time-only transactions)^[28]

Chapter 4 will reflect the findings of Neuromarketing with regard to these criteria.

2.4 Neuromarketing and its limitations

Neuroscience is a complex, very young interdisciplinary science which combines all the investigations on the structure and function of nervous systems and interprets them in an integrated manner. It is the objective of neuroscience to understand neural functions at all levels of complexity.^[29]

Neuroeconomics is a recent and increasingly used collective term for a science in which economists, psychologists, and neuroscientists share their respective findings and attempt to connect them. Within the scope of Neuroeconomics the attempt is made to correlate the humanistic perspective of economy to the scientific view of Neuroscience.^[30] Neuroeconomics uses the possibilities of Neuroscience, specifically in order to understand how people make decisions. Furthermore, it attempts to identify and explain the neural processes within the brain responsible for specific options or for the final decision.^[31]

Neuromarketing as a branch of Neuroeconomics can be considered as the application of the findings of Neuroeconomics to traditional marketing.^[32] Neuromarketing should not a be regarded as a revolution that will recreate existing approaches, but should rather be understood as new perspective and verification process, that places much of what has been previously correctly carried out on a sound scientific base.^[33] In particular, Neuromarketing does not mean that findings from classical psychology or empirical market research can be discarded.^[34] The delusion of being able to look straight into the brain of the consumer by means of new imaging technology, thereby gaining access to his unconscious and secret desires will remain just that. Even though it is possible to identify brain areas responsible for particular feelings and thoughts this does not provide information on what the consumer actually feels or thinks.^[35]

2.5 Prospects of Neuromarketing

Briefly, Häusel describes the possibilities of Neuromarketing as follows:

1.) Supremacy of the unconscious decision-making processes

Neuromarketing can help to gain understanding of the unconscious decision-making processes as well as the neural mechanisms which they are based on. According to Häusel, we should be clear about the fact that most decisions (80% - 95% based on how „conscious“ is defined) are made unconsciously.^[36]

2.) Dominance of emotions and the structure of the emotional system

Neuromarketing can help here to identify the various emotional systems in the human brain and to research their function. As the reader will see later, there are no non-emotional or rational decisions.^[37]

3.) Multisensory processing in the brain

Neuromarketing can help to research how various channels of perception can be used most effectively. It must be kept in mind here that messages which are recorded into various channels of perception simultaneously are intensified many times over by the brain.^[38]

4.) Emotional-cognitive processing

Neuromarketing can help to analyze the attention and cognitive processes which take place in the brain. It is clear that these work in a different way than has previously been suggested by the classic AIDA formula. For this reason the traditional AIDA (Attention Interest Desire Action) formula is not only worthy of criticism but is even incorrect.^[39]

5.) Neurolinguistics

Neuromarketing can help here to optimize text and language.^[40]

6.) Neuroscientific personality research

In personality research, Neuromarketing can help to identify certain consumer types, which can accordingly be segmented with greater chance of success.^[41]

7.) Neuroscientific gender research

Neuromarketing can determine the affects of differences in thinking style, emotional structure and behavior for marketing purposes.^[42]

8.) Neuroscientific age research

In the context of age research, Neuromarketing can help to develop effective and efficient strategies to determine how aging consumers in Europe can be reached.^[43]

3 Basics of and findings from Neuromarketing

3.1 Structure and functioning of the human brain

The following paragraph imparts knowledge about the structure and functioning of the human brain, which is necessary for understanding all those facts and circumstances that are relevant for Neuromarketing. Particularly important are the cerebral cortex (isocortex), especially the prefrontal cortex (PFC), and the limbic system.

3.1.1 The limbic system

Like Roth, Hans-Georg Häusel defines the limbic system as a collective term for those brain structures that are crucially involved in the processing of emotions.^[44] It is composed of parts of the cerebral cortex and subcortical structures which lie medial to the hemispheres. It is subdivided into the following anatomic structures: hippocampus, hypothalamus, amygdala, and cingulate cortex.^[45]

Abbildung in dieser Leseprobe nicht enthalten

Figure 1 depicts the limbic system as well as its location within the brain.^[46]

Some important parts of the limbic system, like the nucleus accumbens, for example, are not shown in the image. Häusel also classes parts of the PFC, in particular the orbitofrontal and the ventromedial cortex, with the limbic system.^[47]

3.1.1.1 Hippocampus and memory

The hippocampus, the main organizer of learning and memory, determines which, where and how or in what context perceptional contents are stored in and recalled from the various types of memory.^[48]

In the literature, two memory systems that work mostly independently of each other are distinguished both psychologically and anatomically. These are referred to as declarative and non-declarative memory.^[49] Declarative memory is divided into three main parts. Episodic memory includes autobiographic memory (remembering) and refers to events and experiences in respect to one’s self.^[50] Factual memory (semantic memory) includes actual knowledge (knowing), like e.g. 1×1 = 1. Semantic memory is drawn upon every time we recall the meaning of words and symbols that surround us.^[51] Recognition or familiarity memory allows us to tell whether or not a certain object or information is known to us. All three types of memory build on each other, i.e. one cannot recall one’s own biography without knowing facts and without recognizing a certain circumstance.^[52]

Non-declarative (implicit) memory is unconscious but always available. It includes skills, habits, conditioning, and priming. All acquired abilities, the so-called skills (cognitive abilities like analytical capacity, methodological competence, or motor skills like swimming or bicycling), are stored in the procedural memory.^[53] We are usually aware that we have a certain ability, but we lack the exact knowledge of details. When cycling, for example, we perform certain movements fully unconsciously.^[54] Implicit memory forms an important part of our personality and influences behavior without us normally being aware of it.^[55]

In addition, the literature also distinguishes between short-term and long-term memory, with long-term memory being declarative as well as non-declarative memory. Short-term memory’s content is mostly forgotten. However, a small part of it is transferred to the long-term memory. A part of the short-term memory is the immediate memory or working memory. It contains information that we are currently and directly aware of.^[56]

3.1.1.2 Amygdala and emotions

In spite of intensive research there is little agreement among researchers on amygdala’s exact functionality. However, there is a consensus about it functioning as an emotional memory storage that has significant influence on decision making. It affects long-term memory in the form of an emotional tonality.^[57] LeDoux indicated that the amygdala in its function is completely detached from the isocortex and yet affects decision making. LeDoux also assumed that certain emotional reactions occur even before the information is completely processed in the PFC. Put roughly, this means that “the emotions occur before thought.“^[58] The amygdala thus works fully autonomically and faster than the PFC. “To simplify greatly, the hippocampus seems to be the focal point for cognition and the amygdala for emotion.” “The hippocampus, for instance, is involved in recognizing a face and its significance, such as that it’s your cousin. The amygdala adds that you really don’t like him. It offers emotional reactions from memory, independent of your thoughts at the moment about something.”^[59]

Bechara und Damasio^[60] also indicate that emotions have an influence on the working memory’s content. This influence assists in confirming or rejecting objects or options, which during a decision are loaded into working memory, i.e. into the dorsolateral part of the PFC. By means of an effect referred to as “modulation mechanism”, emotions exert significant influence on cognitive, rational thinking processes within the PFC.^[61] In this regard, Bechara and Damasio speak of “biasing effects on behavior.”^[62]

3.1.2 Cognitive processing patterns

Consciousness and the unconscious can be regarded as two fundamental kinds of cognitive processing patterns. Scheier and Held speak of an “Autopilot” and a “Pilot”.^[63] They describe the pilot’s and autopilot’s functions as follows: The pilot is responsible for complex tasks during the flight, especially landing and takeoff. For the remainder of the flight the autopilot takes control. The pilot relies on the autopilot without knowing what the autopilot actually does, since his calculations are not transparent to the pilot.^[64] Applied to the brain, this means: Our consciousness isn’t aware of the proceedings of the unconscious. The unconscious in its activities is fully independent of consciousness. The following explanations use this metaphor by Scheier and Held.

3.1.2.1 Consciousness – an exceptional state of the brain

To this day there is no uniform definition of consciousness, but rather many different states of consciousness.^[65] All of these states have only two features in common – they are experienced consciously and can be communicated via language. The contents of consciousness are the body of information of which we are aware.^[66] And thus also working memory’s content.^[67]

Consciousness gets active every time the brain is confronted with something new or unknown, for which memory cannot make a precept yet (e.g. precepts of behavior).^[68] It is likewise activated in case of intellectual problems and conflicts of decision, when the limbic system recalls experiences and decision suggestions from the PFC.^[69] In these cases, the cerebral cortex and especially our long-term storage centers are searched for fragments that can help us solve the stated problem. These fragments are loaded into working memory under the influence of the hippocampus, and are linked to the newly included contents. That is, neurons unite on a short-term basis to form new neuronal units. New cortical networks are established, or existing partial networks have to be reassembled.^[70] Due to increased neuronal activity, this process is very energy-consuming. Because of this, we use up to 20% of our body’s energy alone for intense and conscious thinking.^[71] The literature also refers to the fact that the cerebral cortex consumes eight times more energy than other cerebral tissues.^[72] Accordingly, the brain constantly strives to outsource cognitive proceedings in order to save energy.^[73]

Apart from high energy consumption, consciousness also has an extremely small bandwidth for information processing. While our five senses (sight, hearing, taste, touch, smell) provide our brain with 11 million bit of information every second, we only become aware of 40 to 50 bit of them.^[74]

An overview on the information that affect our brain every second, as well as on the part that can actually be processed by the isocortex and the underlying subcortical areas is given in Table 1.

Abbildung in dieser Leseprobe nicht enthalten

Table 1 sensory processing based on Scheier/Held^[75]

No clear scientific consensus on the share of conscious behavioral control can be found. While Zaltman assumes that consciousness accounts for 5% of total mental activity, Häusel speaks of a share of 20 to 30%.^[76] Apart from the high energy consumption and small bandwidth for information processing, a meager processing speed can also be observed, as will be shown later on. Thus, consciousness is a kind of an exceptional state in the brain.

3.1.2.2 Comparison with the unconscious

For the sake of simplicity, all thought processes that aren’t conscious are to be attributed to the unconscious. The authors Raab, Gernsheimer, and Schindler have summarized the concepts of consciousness by Kahneman^[77], Zaltman^[78], Häusel^[79] and Scheier/Held^[80] in Table 2:^[81]

Abbildung in dieser Leseprobe nicht enthalten

Table 2 overview on the different concepts of consciousness based on Raab^[82]

The majority of proceedings in the brain are processed in the background, i.e. implicitly and unconsciously. Conscious processes are the exception. This also applies for decision making processes, as will be shown.

[...]

^[1] Friedrich Schiller according to Brandmeyer (2002), p. 315

^[2] Cf. Raab/Gernsheimer/Schindler (2009), p. 1

^[3] Cf. Häusel (2010), p. 9

^[4] Cf. Scheier/Held (2010), pp. 38-45; Cf. Raab/Gernsheimer/Schindler, (2009), p. 1

^[5] Cf. Baumgarth (2010), p. 39

^[6] Backhaus (2010), p. 5

^[7] Cf. Häusel (2010), p. 227

^[8] Cf. Esch (2008), p. 1

^[9] Bundesministerium der Jusitz (2011): MarkenG §3 Als Marke schutzfähige Zeichen, http://www.gesetze-im-internet.de/markeng/__3.html, 09.03.2011

^[10] Kotler/Keller (2006), p. 274

^[11] Cf. Baumgarth (2010), p. 41

^[12] Cf. Esch (2008), p. 22

^[13] Cf. Backhaus/Voeth (2010), p. 12

^[14] Cf. Bruhn (2009), p. 16

^[15] Cf. Bruhn (2009), p. 15

^[16] Bruhn (2009), p. 14

^[17] Cf. Bruhn (2009), p. 13

^[18] Cf. Baumgarth (2010), p 41

^[19] Cf. Backhaus/Voeth (2010), p. 5

^[20] Cf. Baumgarth (2010), p 41

^[21] google.de query on 09.03.2011

^[22] Cf. Baumgarth (2010), p.48; Cf. Backhaus/Voeth (2010), p. 9

^[23] Cf. Baumgarth (2010), p.48; Cf. Backhaus/Voeth (2010), p. 9

^[24] Cf. Baumgarth (2010), p.48; Cf. Backhaus/Voeth (2010), p. 9

^[25] Cf. Baumgarth (2010), p.48; Cf. Backhaus/Voeth (2010), p. 9

^[26] Cf. Baumgarth (2010), p.48; Cf. Backhaus/Voeth (2010), p. 9

^[27] Cf. Baumgarth (2010), p.49; Cf. Backhaus/Voeth (2010), p. 37

^[28] Cf. Baumgarth (2010), p.49; Cf. Backhaus/Voeth (2010), p. 37

^[29] Cf. Raab/Gernsheimer/Schindler (2009), p. 2

^[30] Cf. Kenning (2007), pp. 18 et seq.

^[31] Cf. Pirouz (2004): pp. 1-25

^[32] Cf. Raab/Gernsheimer/Schindler (2009), pp. 4-6

^[33] Cf. Scheier/Held (2010), p. 23

^[34] Cf. Raab/Gernsheimer/Schindler (2009), p. 22

^[35] Cf. Kenning (2007), pp. 18 et seq.; Cf. Scheier/Held (2010), p. 13

^[36] Cf. Häusel (2007b), p. 10

^[37] Cf. Häusel (2007b), p. 11

^[38] Cf. Häusel (2007b), p. 11

^[39] Cf. Häusel (2007b), p. 11

^[40] Cf. Häusel (2007b), pp. 11-12

^[41] Cf. Häusel (2007b), p. 12

^[42] Cf. Häusel (2007b), p. 12

^[43] Cf. Häusel (2007b), p. 12

^[44] Cf. Roth (2003), p. 256; Cf. Häusel (2010), p. 73

^[45] Cf. Raab/Gernsheimer/Schindler (2009), pp. 170-177

^[46] Source: Häusel (2010), p. 73

^[47] Cf. Häusel (2010), p. 73

^[48] Cf. Raab/Gernsheimer/Schindler (2009), p. 128

^[49] Cf. Raab/Gernsheimer/Schindler (2009), p. 123

^[50] Cf. Roth (2003), pp. 154-155

^[51] Cf. Raab/Gernsheimer/Schindler (2009), p. 124

^[52] Cf. Raab/Gernsheimer/Schindler (2009), p. 124

^[53] Cf. Roth (2003), p. 156

^[54] Cf. Raab/Gernsheimer/Schindler (2009), pp. 126-127

^[55] Cf. Raab/Gernsheimer/Schindler (2009), p. 127

^[56] Cf. Raab/Gernsheimer/Schindler (2009), pp. 127-128

^[57] Cf. Raab/Gernsheimer/Schindler (2009), p. 176

^[58] LeDoux (2000), pp. 155-184

^[59] LeDoux (2000), pp. 155-184

^[60] Cf. Bechara/Damasio (2004), pp. 336-372

^[61] Cf. Raab/Gernsheimer/Schindler (2009), p. 210

^[62] Bechara/Damasio (2004), pp. 336-372

^[63] Cf. Scheier/Held (2010), p. 59

^[64] Cf. Scheier/Held (2010), pp. 59-61

^[65] Cf. Roth (2003), p. 547

^[66] Cf. Zimbardo/Gerrig (2010), p. 136

^[67] Cf. Raab/Gernsheimer/Schindler (2009), p. 159

^[68] Cf. Roth (2003), p. 219

^[69] Cf. Raab/Gernsheimer/Schindler (2009), p. 160

^[70] Cf. Raab/Gernsheimer/Schindler (2009), p. 161

^[71] Cf. Häusel (2010), p. 87

^[72] Cf. Roth (2003), p. 217

^[73] Cf. Raab/Gernsheimer/Schindler (2009), pp. 102,103

^[74] Cf. Scheier/Held (2010), p. 47

^[75] Source: Scheier/Held (2010), p. 47

^[76] Cf. Zaltman (2004), p. 51; Cf. Häusel (2010), p. 83

^[77] Cf. Kahneman/Frederick (2001), pp. 1-22

^[78] Cf. Zaltman (2004), pp. 47-71

^[79] Cf. Häusel (2010), pp. 83-93

^[80] Cf. Scheier/Held (2010), pp. 53-65

^[81] Cf. Raab/Gernsheimer/Schindler (2009), p. 214

^[82] Source: Raab/Gernsheimer/Schindler (2009), p. 214