During where Microsoft unveiled Bing, Microsoft CEO Steve Ballmer said the name was chosen because it was short, worked for a global audience and didn't have any negative connotations

No matter what the reasons, Weiner said that with Bing Microsoft has a brand -- unlike its previous MSN or Live Search brands -- "that is marketable and quick off the tongue" and easily identifiable, but not tied to the Microsoft brand.

"They've carved out a niche for themselves like they did with Xbox," he said.

It remains to be seen how well Bing fares after its official debut next Wednesday. In the meantime, Google not only continues to add features to its own search engine but also is launching new online applications. On Thursday, the company revealed an ambitious product called Wave that combines e-mail, IM, blogging, photo management, wikis and document sharing.

"Google continues to remind the world they are spending lots of money and time in dictating the future of search," Sterling said. "They are not standing still by any stretch of the imagination."