While previous research has examined extensively the fit between an organization’s environment and structure, it was unable to account for the unique sources of economic value creation that the emerged digital markets established. Recent development of the Business Model construct addresses the peculiarities of digital markets and has initiated expiration of the fit between a firm’s two key sources of economic value creation: its product and its business model, with the underlying question: how do firm’s business model themes and product market strategies interact to impact firm’s performance. Following Amit and Zott’s (2008) path breaking study, where the novelty-cantered business model was found to have positive effect on performance when coupled with differentiation, cost-leadership and early entry product market strategies, the present research aims to further advance that initiative. We formulate and justify a set of new research propositions where conventional product market strategies (differentiation vs. costs leadership, mass vs. niche market, early vs. late entry) are matched with the four business model themes (novelty, efficiency, lock-in, and complementarity). The propositions focus on the fit between product market strategies and business model themes with contingencies to digital business contexts, and thereby potentially accounting for the peculiarities of digitalization as manifested in their unique shape of network effects and marginal cost structures.