Interest in marketing innovation has been growing in both academia and practice. Nevertheless, innovation research in marketing has been limited to the areas of new product development and consumer adoption of innovative products, which was insufficient to explain the various dimensions of marketing innovation. This study more proactively defines marketing innovation from a company-wide and strategic perspective, distinguishes the dimensions of marketing innovation, and presents an integrated framework for marketing innovation to analyze its impact on firm performance. To this end, marketing innovation was conceptualized using innovation studies that reflect marketing concepts in the fields of organization theory and strategic management, as well as literature related to marketing concepts and innovation in the marketing domain. Furthermore, by examining the relationship between key marketing processes and innovation domains, specific dimensions of marketing innovation based on marketing processes and activities were proposed. Empirical analysis of 151 firms revealed that marketing innovation has a positive effect on overall firm performance, and that innovation in the market knowledge management process affects financial performance through the mediating role of innovation at the marketing execution level.