Here’s a great article by Frank Chimero on the difference between hype and enthusiasm related to design, product development, and content. In short, if you’ve got crummy content promoted by a crackerjack design then at its best it’s just hype. Design won’t ever rise above its content.
I’ve had an essay about marketing drafted for months which would make a good companion piece to Frank’s article. To summarize: marketing should value impact over impressions, and the most effective “tools” for marketing are content and products.