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Introduction
The opportunity to advertise a product to a large audience is doubtlessly one of the key premises for successful business performance. However, in the digital economy, the chances of advancing a product by promoting it online may turn out to be quite slim due to the hegemony of a particular dominant organization within the industry (Lamoreaux, 2019). Specifically, Google Inc., which has gained the ownership of all major advertisement tools, services, and platforms, has been posing quite a threat to the viability of small and medium entrepreneurship in the online setting, in general (Schechner & Hagey, 2021). By reducing the range and extent of online space that companies can use to promote their products and services, one can address the problem of the monopolistic trends toward advertising options that companies such as Google have been demonstrating over the past several years.
Solution
To minimize the conflict of interests in the observed situation, an agreement regarding Google advertising the services of other organizations could be used. As a recent case has shown, Google France has already suffered implications for its monopolistic attitudes and the unwillingness to share advertisement space with other organizations (Pottinger, 2019). According to the details of the case, a settlement based on which Google was placed under an obligation to advertise on behalf of the companies that have suffered losses has been attained (Gordon et al., 2021).
Conclusion
Therefore, while there are solutions to the current problem with the lack of advertisement space for SMEs in the digital market, changes should be made to the legal standards for advertising. Namely, companies, including those of greater influence in a target market, should be restricted in the extent of space that they can use to advertise their services. Thus, minor organizations will receive an opportunity to promote their products as well.
References
Gordon, B. R., Jerath, K., Katona, Z., Narayanan, S., Shin, J., & Wilbur, K. C. (2021). Inefficiencies in digital advertising markets. Journal of Marketing, 85(1), 7-25. Web.
Lamoreaux, N. R. (2019). The problem of bigness: From standard oil to Google. Journal of Economic Perspectives, 33(3), 94-117. Web.
Pottinger, N. E. (2019). Don’t forget to subscribe: Regulation of online advertising evaluated through YouTube’s monetization problem. Kentucky Law Journal, 107(3), 6. Web.
Schechner, S., & Hagey, K. (2021). Google nears settlement of ad-tech antitrust case in France. The Wall Street Journal. Web.
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