1.  Marketing = Advertising

The greatest myth gets first place.  While advertising may play a role in some effective marketing, it’s not for everybody.  Marketing focuses on the solutions that are specific for your firm, for your problems and your opportunities.  Marketing relies on finding the right tool for the job, NOT trying to fit the job to the tool.  

2.  Marketing is Expensive

Expense is relative to the return generated.  Marketing is about creating the best solution for your firm in the most cost effective manner.  Marketing is only effective when it creates a benefit for your firm greater than the cost.  Would you buy a product at a higher cost than you can sell it?  Not a chance.  Marketing is finding the method that generates the highest return on investment for your firm.  You are buying a product that will produce revenue and profits; that’s marketing.  

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3.  Marketing is only for large companies

If this were the case no small companies would exist.    Not a single one!  It would be impossible.  Tie this back in with Number 2.  Marketing is an investment that all firms must undertake. To ignore marketing because your firm is small is to ignore selling your product or service because you can’t sell as much as Wal-Mart.  Marketing is for every sized firm as marketing adapts to the particular client.  Only your needs are met, it is not a one-sized fits all strategy.

4.  Marketing is done best in-house

You do your business better than any of your competitors.  It’s why you’re in the business you’re in. Marketing firms do marketing better, and usually at a lower cost.  I mean, doctor’s go to other doctors, lawyers go to other lawyers, and even marketers hire other marketers.  You need the perspective of someone outside your organization. Finally, by contracting a marketing firm you allow yourself more time to relax, be with your family, and to concentrate on what you do best; run your business. 

5.  You don't need a marketing strategy

Whoever said that strategies aren’t important never operated in the volatile market you operate in.  Does a general go into war without a strategy?  Even when they have superior weapons?  No, you know why?  It doesn’t make any sense.  You must have a plan for how best to allocate your resources. Otherwise you’re just throwing darts blindfolded.  You might hit the target; you might even get a bull’s eye.  How repeatable do you think that success is? Maybe a shot in the dark? Marketing is about creating sustainable competitive advantage, sustainable revenue streams and consequently sustainable success. 

6.  You shouldn't spend money on marketing when sales are down

This is precisely the time to spend on marketing.  The market is shrinking and you need to gain as large a share as possible.  This is the make or break time.  Your competitors are spending on quality marketing to ensure that they maintain and grow their market position.  Spending on marketing now allows your firm to expand with the market.  You must be proactive in today’s changing markets; reactive firms are already behind the times.  Marketing is a calculated investment designed to provide your firm with the best solutions at the most cost effective price.  Investing in marketing now means that you can enjoy higher rewards as the market recovers, you place yourself in the perfect position to succeed.