Marketing and Finance at Google
Refers Google, everyone must familiar with, because in the last decades, it influenced or changed people life and created a miracle in media industry. “Do you Google today?” I promise most of you will say yes. Google, already become a verb rather than a noun; Google already become a necessity in people’s life. It was estimated, when American men meeting troubles, more than 60 percent of them would like to choose Google for help, and Google will give answerers within three seconds.
They number exactly doubled for employees with twenty five million dollars equity funding near mid 1999 at a new office in Palo Alto. But, the number of queries solved was sufficiently increased by five hundred thousand per day. The company then was moved to Mountain View, performing three million searches a day in the same year later on. There were thirty nine employees at the end of that year. Google expanded the search engine into ten another languages than English and also introduced handheld devices first of its kind with wireless technology for WAP phones. By June 2000, Google was the biggest search engine on the web solving eighteen million queries a day. But, the strength in terms of manpower was still less than a hundred. The capacity of answering was increased almost three times after than by the end of 2000 by sixty million searches per day that was doubled in early 2001. That shows how fast the company advanced in terms of technological advancements. Europe and Asia were also afterwards in its agreement list.
In addition, the strength of Google’s marketing strategy has increased the number of its user through developing numerous advertising avenues, international markets, channels, and products. This is imperative in assisting Google in testing new online strategies in order to adopt good ones or drop bad ones. If Google wants to get into a foreign market, it should consider how its users would react to how their private information and personal data are being utilized by the company to test results. This problem may be solved by ensuring that customer information is encrypted and by reducing the effectiveness of its SEM and SEO add –ons in countries where privacy and confidentiality is important and well guarded (Pinson, 2004).An organization financial health is important in covering its expenses, entering new markets, buying other companies, and starting new business. Google has a strong financial base having started with a financial muscle of US$100,000.For instance; Google’s capitalization was $230 billion in 2007.This is a clear indication that the company has a strong financial base to enable it to penetrate any foreign market either through merger and acquisition or as a new venture (Joshi, 2005). Management of a company is essential in developing policies and goals of a business. Google uses centralized management system where main decisions are made at the central location of the company. In order to get into foreign markets, Google should adopt a decentralized system of management where branches in foreign countries can make independent decisions (Cullen & Parboteeah, 2005).
Summing up, it is evident that Google is one of the most innovative and fast growing companies in the contemporary world. Indeed, the company has a deep history which dates back to 1995. The company enjoys a big revenue size which has also reduced the rate of growth. In essence, it has been noted that the company faces various challenges in regard to the social, financial, and technical issues.Importantly, the rise of Facebook, vertical search, and the lack of diversity are some of the crucial challenges facing the company. It is therefore important that the company embarks on increasing its innovative capability and growth. Lastly, it cannot be disputed that the revenue and the profitability of the company keeps on rising over the years.
Campbell, D., Hamill, J., Purdie, T., & Stonehouse, G. (2004). Global operations and transnational business: Strategy and management. West Sussex, England: Wiley.
Cullen, J. B., & Parboteeah, P. (2005). Multinational Management: A Strategic Approach. Mason, OH: Thompson.
Joshi, R. (2005). International Marketing .New York: Oxford University Press.
Pinson, L. (2004). Anatomy of a Business Plan: A Step-by-Step Guide to Building a Business and Securing Your Company’s Future .Chicago: Dearborn Trade.