What is the atlternative to the Google adwords?

I would say AdWords biggest competitors will be Yahoo! Advertising network and Microsoft/MSN AdCenter. I haven't used either, so I cannot comment on their effectiveness.

If you are looking to drive targeted traffic toward your site, you can consider using sites/marketplaces like AdBrite.com AdEngage.com and the like.

However, if you want to reach people through search engines, you cannot avoid hitting the GYM (Google, Yahoo, Microsoft).
 
Probably MSN Adcenter & Yahoo search marketing could be good alternative especially if your targeting on less competitive keywords, for competitive keywords no one can beat Adword.
 
There are 3 major players on the advertising, which is Adwords, Yahoo Search Marketing, and MSN AdCenter.

Each of them are very effective at delivering your ads to the viewers. But it wll depends on your options to choose which ads you need to appear the most in the 3 search engine above.

Adwords have the highest popularity.
 
There is no alternative but..

you can do some SEO work and promte your website. Another way is to buy quality links from established web sites or niche ditectories. Yahoo directory for example.
 
You can view Yahoo Search Marketing as an alternative to Google Adwords, but the results are definitely not the same. You get much better results with Google, but it is very expensive. Yahoo Search marketing is less effective however much cheaper (at least here in India). We use both, but restrict our campaigns to only a few selected keywords for Adwords as for Yahoo we use all the keywords we can think of.
 
From my experience, I've found that Yahoo Search Marketing doesn't convert nearly as well as AdWords. It can deliver the traffic much cheaper, but by the time everything is said and done you'll be paying more per conversion.
 
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