“…The finding of the research that marketing expenditures increase firm performance is coherent with most of the studies in literature (Paton and Williams,1999;Shah and Stark, 2005;Conchar, Crask and Zinkhan, 2005;Qureshi, 2007;Krasnikov and Jayachandran, 2008;Krishnan, Tadepalli and Park, 2009;Çifci, Doğanay and Gülşen, 2010;Siong, 2010;Candemir and Zalluhoğlu, 2011;Topuz and Akşit, 2013;Çiftçi, 2014;Doğan and Mecek, 2015). Also Anindita, Prashant and Anantha (2008) in their study could not identify a statistically significant relationship between marketing expenditures and firm performance.…”