What would you consider among the chief misconceptions about effective marketing that are still operating in today’s companies?

Marketing is a terribly misunderstood subject in business circles and in the public’s mind. Companies think that marketing exists to support manufacturing, to get rid of the company’s products. The truth is the reverse, that manufacturing exists to support marketing.  The company can always outsource its manufacturing. What makes a company is its marketing offerings and ideas.  Manufacturing, purchasing, R&D, finance and the other company functions exist to support the company’s work in the customer marketplace.

Marketing is too often confused with selling. Selling is only the tip of the marketing iceberg.  What is unseen is the extensive market investigation, the research and development of appropriate products, the challenge of pricing them right, of opening up distribution, and of letting the market know about the product.  Thus, Marketing is a far more comprehensive process than selling.

Marketing and selling are almost opposites. Hard sell marketing is a contradiction. Long ago Kotler said: “Marketing is not the art of finding clever ways to dispose of what you make.  Marketing is the art of creating genuine customer value.  It is the art of helping your customers become better off.  The marketer's watchwords are quality, service, and value.”

Selling starts only when you have a product.  Marketing starts before there is a product.  Marketing is the homework the company does to figure out what people need and what the company should make.  Marketing determines how to launch, price, distribute and promote the product/service offering in the marketplace. Marketing then monitors the results and improves the offering over time. Marketing also decides when to end the offering.

All said, marketing is not a short-term selling effort but a long-term investment effort.  When marketing is done well, it occurs before the company makes any product or enters any market; and it continues long after the sale.