Marketing Strategies and Firm Performance: A Systematic Literature Review

Abstract

The rapid evolution of the global market, characterized by digital disruption and increasing environmental concerns, has forced firms to re-evaluate the effectiveness of their marketing strategies. Despite the proliferation of research on the subject, the relationship between strategic marketing interventions and firm performance remains fragmented and context-dependent. This study aims to systematically review and synthesize empirical evidence from the past decade (2013–2023) to identify dominant knowledge patterns and evaluate the consistency of marketing strategy outcomes. Following the PRISMA 2020 protocol, a systematic literature review and meta-analysis were conducted on 26 high-quality peer-reviewed articles. The meta-analytic synthesis utilized a random-effects model to account for inherent study heterogeneity, supported by diagnostic tools including funnel plots and standardized residual histograms to detect publication bias. The results reveal a robust and statistically significant positive correlation between strategic marketing initiatives and firm performance. Publication bias analysis confirmed no significant asymmetry, indicating the integrity of the synthesized data. However, substantial statistical heterogeneity was identified, suggesting that the effectiveness of the marketing mix is ​​highly contingent upon industry turbulence and managerial adaptability rather than a universal "one-size-fits-all" application. The study concludes that while marketing competencies are vital for competitive advantage, their success is maximized through contextual tailoring and the integration of sustainability. These findings underscore the need for future research to move beyond quantitative dominance toward qualitative investigations that capture the nuanced "how" and "why" of strategic execution in an uncertain global landscape.