Essay About Businessnameuniversitybusinessonline Mapping Services And Monopolistic Competition Market

Utilize Any Digital Tool to Build What You Want.
BusinessNameUniversityBusinessOnline mapping services and products have become much of a trend in the past few years; people utilize the tool to make navigation, selection, search and exploration easier and simpler. Several companies have launched mapping services on their platforms but Google it seems is the leading giant in providing an innovated version of the service. The social networking monopolist Facebook is also looking forward to design and launch it’s very own mapping service that will be available to Facebook users online. Google’s mapping service is integrated into it’s web search engine, this provides ease of access to users, other than that, Google Maps are separately available to download and run as well. Although Apple was the company that came up with the idea to integrate mapping into cellular and/or computer machines, it was not able to reach as far as Google was able to with the idea. These companies that are only a handful in amount have created a structure that meets the characteristics found commonly in a monopolistic competition market, with Google leading the pack with a proportionately larger market share than that of the other companies. Monopolistic competition allows for all the companies in the market of a certain product or service, in this case mapping services, to have significant say in the pricing, supply and demand of the service, affecting these factors by changing their own policies of production and sales. Google however, it seems is taking it a step further for itself and attempting to achieve a larger share of the market by advertising the launch if it’s brand new mapping service featuring a variety of different tools and services. This would change the market structure more towards to a monopoly  with Google having more market share, eventually more economies and profits. References