This thesis is based on two assumptions: that disruptive technology changes the conditions of how new businesses are created, and that effective management methods and the adaption of internet facilitate an increasingly more rapid change in most markets.
This thesis argues that any company doing business in a segmented or a new market (i.e. an entrepreneurial company) could consider using a new market business strategy. This thesis introduces the term New Market Business Strategy as a generic term for all business strategies looking to create value in a segmented or a new market.
The aim of the research is to learn if Norwegian entrepreneurial companies are using new market business strategies, and how these business strategies have evolved.
The theoretical foundation for this research is obtained from the selected new market business strategies: Blue Ocean Strategy, The Customer Development process, Lean Startup and demand creation theory.
The research design of this thesis is a combination of a multiple case design with a holistic analysis, and a cross-sectional design. The data was collected by doing in-depth interviews of five Norwegian entrepreneurial companies in the IT-industry.
The results were ambiguous. None of the entrepreneurial companies use the selected theories consciously, but researching their business strategy discovered that they use many of the processes and ideas from new market business strategies.
These finding suggest that new market business strategies are common knowledge for entrepreneurial companies, and that these business strategies have developed either empirically or as systematization of common knowledge.
Interesting further research include a longitudal study of how entrepreneurial actions affect practical and theoretical business strategy.
Key words: Business strategy, strategic management, strategy, new market business strategy, entrepreneurship, entrepreneurial company, demand, demand creation, lean startup, blue ocean strategy, customer development process, IT, Norwegian entrepreneurial companies, marketing as a strategy, marketing.