In recent years, many researchers have addressed the importance of developing empirical generalisations in marketing. A number of studies found that many marketing theories have not passed rigorous tests yet, but are widely accepted by marketing academics and practitioners. This research was designed to survey marketing beliefs held by marketing academics and practitioners. Ten marketing generalisations that have not been proved by research were selected, and each of them was expressed into a short statement which particularly addressed the theoretical effect on business profitability. Respondents were asked to make their judgements on the statements. A total of 194 respondents participated in this survey, including 43 New Zealand university teachers, 24 New Zealand polytechnic teachers, 112 New Zealand managers, and 15 non-New Zealand marketing professionals. Three important findings were reported: 1.) over two thirds of respondents chose wrong answers for more than half of the ten statements; 2.) academics made more accurate judgements than practitioners; and 3.) university teachers were not more accurate than polytechnic teachers judging the ten statements.