Market Model Patterns of Change Research Paper

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Google Monopoly

Technology and the internet have brought about many changes in nearly all facets of modern living. As a result, markets and financial systems also have felt the impacts of this massive revolution. Monopolistic trends have been witnessed in the past decade as those organizations who can capitalize on a market, or by creating a brand new market, dominate with product innovation and keen business practices

The purpose of this essays is to exaine Google as company who is exisiting and flourishing in a monopoly market. The serach engine market has produced billions of dollars of revenue for this internet company. This essay will describe the major factors that affect the degree of the competitiveness in this market that Google is currently dominating. The essay will also examine the competitive forces that are trying to vie for business share and competitive advantage in this particular market.

Signs of a Monopoly

In order to understand how a monopoly is created, the idea of competition must be understood. Perfect completion is the ideal state of the market according to many theorists where there is relative freedom of choice, entry and exit, and reasonable, but fair competition. A monopoly occurs when one single company or voice dominates and dictates a specific market.

According to a recent report, Goodwin (2013) wrote "Google is still hovering around 67% market share, while Bing has made some small gains at Yahoo's expense.

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Google's share of the U.S. search market held steady at 66.9% for the third straight month. Year-over-year, Google's search share remained unchanged as well, as it checked in with 66.9% search market share in October 2012. Does this percentage qualify for a monopoly? In most recent context it certainly appears to have some of the qualities of such an event.

The search engine market is a very lucrative business due to the amount of traffic and exposure these types of applications provide. Bort (2013) reported on the qualifications of Google's monopolistic stance. She wrote "Google does it. They have, dare I say, a monopoly. Microsoft is the only company on the planet still trying to compete with it." Google's reach is global. Crawford (2012) explained that "Google accounts for 80% of all Web searches in Europe. Whether or not the complaints against Google are valid, they may be looking backward. Increasingly, Google is not a search engine and is morphing into something larger."

Google's Strategic Outlook

One of the key decisions business leaders make is how to price the goods and services they offer to consumers. Prices that are too high will drive away customers, while prices that are….....

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