Underbid
/ˌʌndərˈbɪd/
Definition 1 of 2
Pro Tip 1/3Business Tactics
Underbid can imply a strategic move by a company to gain market share by offering lower prices.
To capture more clients, they underbid their competitor's offer.
Pro Tip 2/3Risk Implications
Underbidding could lead to losses if costs are underestimated in the bid.
The contractor regretted underbidding as the project incurred unexpected expenses.
Pro Tip 3/3Comparative Advantage
Underbidding usually indicates that the seller has a lower cost base or is willing to accept less profit.
Their ability to underbid was due to efficient production processes.
Compare with
CheapenDepreciateDevalueDiscountReduceUndercutUndersell
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