Justin Skycak wrote a great answer that you can use with your kids, but I'd like to explain how what you're telling them relates to what they might be seeing right now and later on in school. I'll be referring to the U.S. Common Core State Standards (CCSS), but many curricula in the U.S. and in other countries follow similar approaches, though timing may differ.
In the CCSS, fractions are introduced in grade 3. Here's an excerpt from the standards.
Students develop an understanding of fractions, beginning with
unit fractions. Students view fractions in general as being built out of unit fractions, and they use fractions along with visual fraction models
to represent parts of a whole... Students are able to use fractions to represent numbers equal to, less than, and greater than one.
This means that we want third graders to view $\frac{8}{4}$ as "8 parts when each whole is divided into 4 parts." To use pizza as an example, we would say "One pizza is a whole. Divide each whole into 4 parts. 8 of these parts makes $\frac{8}{4}$." Of course, this means that $\frac{8}{4}$ is more than 1 whole!
Here's what a grade 3 workbook exercise from a popular publisher looks like.
Each shape is 1 whole. Write a fraction greater than 1 for the parts that are shaded.
A third grader might reason it out like this.
Each circle is 1 whole, and each whole is divided into 2 equal parts. This means each part is $\frac{1}{2}$. There are four parts shaded, so $\frac{4}{2}$.
This is pretty much all we expect from third graders. In particular, we do not expect 8-year-olds to reason about fractions using multiplication. The remainder of this answer is devoted to considering what students will learn in later grades.
In grade 4, students learn how to add and subtract fractions with the same denominator, and the operation "$n$ times $\frac{a}{b}$" is introduced. Students at this point can interpret $\frac{8}{4}$ as "$8$ times $\frac{1}{4}$." To go back to the pizza example, "I ate a quarter of a whole pizza eight times."
Then in grade 5, the interpretation of fractions as division, $\frac{a}{b} = a \div b$, and the operation "$\frac{a}{b}$ of $q$" are introduced. As you've said, it's not simple at all to explain why $\frac{8}{4}$ should be the same as $8 \div 4$ and $\frac{1}{4}$ of 8, and this is a major focus of 5th grade mathematics in the CCSS.
Understanding this idea requires children to be able to, within a single problem, change units/re-identify a whole. This is why it's critically important to have third graders go through the process of identifying a whole, aka "unitizing." To illustrate what I mean, here's another exercise from the same workbook.
Write a fraction to name the shaded part of the group.
The students are being asked to treat the entire group as a whole. They might interpret the whole as being divided into 8 equal parts, in which case the shaded parts are $\frac{2}{8}$ (of a whole), or they might interpret the whole as being divided into 4 equal parts, and the shaded part is $\frac{1}{4}$ (of a whole). This is $\frac{1}{4}$ of our whole pizza order. On the other hand, if we consider each dot to be a whole, then each dot is divided into one part, and the shaded parts are $\frac{2}{1}$ (of a whole), or 2 wholes. This is 2 whole pizzas.
After the notion of "$\frac{a}{b}$ of $q$" is introduced in grade 5, students learn to say that this is also $\frac{1}{4}$ of 8 wholes. To do this, they have to be able to quickly switch between viewing the entire group as a whole and viewing each dot as a whole. Once they're able to, they can determine that $\frac{1}{4}$ of 8 whole pizzas is 2 whole pizzas. They also know that 2 is the result of dividing 8 by 4. And by dividing each whole pizza into 4 equal slices, they can see that 2 whole pizzas is also $\frac{8}{4}$ whole pizzas. $\frac{8}{4}= 8 \times \frac{1}{4} = 8 \div 4 = \frac{1}{4} \times 8$. It seems innocuous, but this idea is one of the capstones of elementary school mathematics.