There comes a time in most businesses where manufacturers look around at various opportunities for growth and struggle with them due to channel conflict. According to Wikipedia, channel conflict occurs when manufacturers (brands) disintermediate their channel partners, such as distributors, retailers, dealers, and sales representatives, by selling their products direct to consumers through general marketing methods and/or over the internet through eCommerce. (http://en.wikipedia.org/wiki/Channel_conflict) In the case of Ad Words, Google is the manufacturer and as you can see below, they are now also the advertiser who is in the business of re-selling mortgage refinance leads.