Differentiating Between Market Structures

Differentiating Between Market Structures






Differentiating Between Market Structures

Differentiating Between Market Structures
As the internet started back on August 6, 1991 which was 20 years ago today, a lot has changed, the speed is faster, downloads are faster too. Some of the companies which were really big at the start of the internet are not even around today like American Online (which was originally called Quantum Computer Services), then there was Netscape, Prodigy, and CompuServe.
The Start of Google
Then the big change for the world came when Google opened their first office in California in 1998. Google’s market structure to become dominant and to become a household name came true, if a person needs to find out something they simply Google it. Google’s market was to be a Monopolistic Competition, but a Monopolistic Competition is not a Monopoly. When two or more firms’ products are different from another on everything, but the price this is called a Monopolistic Competition.
Partners of Google
Larry Page and Sergey Brin developed a search engine which was capable of filtering webmasters tricks, which the consumer likes because it gives results which are more relevant and interesting. They called this “PageRank”, and the general working of this is known but the exact formula for this is still a secret today.
Second thing Larry and Sergey decided to do was to have a clear, simple, and essential home page. This was done by just having the Google logo and a search box. This made the Google home page even at slow connection speeds load much faster than any other competitors. These two things made Google grow faster and with overwhelming success over their competitors. Google understood how the eye and brain works, so they used perception of Psychology for a clear understanding of their web page.
If a customer wants a search engine that is quick and reliable then they would use Google. Google also has been very smart about their finances also. There...

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