Clearly they have a desire to offer more to advertisers than just a text link," said Tim Hanlon, senior vice president of emerging contacts at ad agency Publicis Groupe.
The print ads also expand Google's efforts to become a middleman for advertisers and publishers.
"Google has shown that big media companies don't have to be part of the mix at all," Hanlon said.
Inksite, which sells printer ink and toner, paid about $1,000 for a one-quarter page ad in the Sept. 6 issue of PC Magazine, Keen said.
By comparison, a text ad in search results for "printer toner" might cost as much as $2.25 per click.
The issue has a full page of Google-facilitated ads with the URL of an online version of the page at the top.
Fine text also appears at the top saying "Ads by Google," and "Google advertisers offer these products and services" at the bottom.
Over the last four years, Google has established itself as the kingpin of online advertising, largely through its sales of tiny search-related ads.
Google's "cost per click" system was built on selling keyword ads to the highest bidder and letting marketers pay only when Web surfers click on tiny text links.
Two years later, in an effort to find new sales and avoid an eventual slowdown in the booming search ads business, Google started selling display ads.
"I would be surprised and somewhat disappointed if they were to spend a lot of money and resources on a print advertising unit," said Safa Rashtchy, senior Internet analyst at Piper Jaffray.
Other industry watchers saw an upside in the move, given that search ad sales could eventually peak.
Despite mixed reactions from Google watchers, some online marketers said they are excited about the potential.