The theoretical cornerstone of the field of strategic marketing is marketing strategy, a crucial facet of marketing practice. Furthermore, this industry is the source of many of the most pressing problems that marketers and CMOs are currently aware of. We provide a novel conceptualization of the domain and sub-domains of marketing strategy and use this perspective to assess the current state of marketing strategy research by examining the articles published in the six most prestigious marketing journals between 1999 and 2017. We list a number of challenges that marketing strategy research faces, such as a decline in the number and breadth of studies, as well as a decline in the application of theory and primary research methods. Undoubtedly, there are more opportunities than ever to impact practice and address unresolved marketing strategy problems, but we also uncover a wealth of opportunity for producing new, extremely relevant marketing strategy information. To guide this form of research, we develop a new research agenda that provides opportunities for scholars to expand theory, show how applicable it is, and progress practice.