underbid
Price below competitors
To underbid is to offer a lower price than a competitor, typically in an auction or contract negotiation: Three contractors underbid us on the project.
It can also mean to bid less than what something is worth: She underbid her hand in bridge.
The practice may win contracts but risk insufficient funds to complete work properly.
Deliberately understate cost
- undervalueEstimate below true worth
- underpriceCharge below value
- undersellCharge below competitors' prices
- undercutSell cheaper than rivals
discount · devalue · cheapen · markdown · cut-rate · rock-bottom · bargain-basement · loss leader
Soft or sore
- procurementObtaining goods externally
- bidderOne who makes offers
- contractorHired construction professional
- subcontractorHired by the hirer
proposal · quotation · estimate · submission · vendor · supplier · award · specifications
Methods to achieve goals
- negotiationDiscussion seeking mutual accord
- positioningArranging in specific locations
- leverageBorrowed capital for amplified returns
- advantageFavorable position or circumstance
game theory · bluffing · risk assessment · competitive advantage · market share · predatory pricing
lowball
Deliberately understate cost
- undervalueEstimate below true worth
- underpriceCharge below value
- undersellCharge below competitors' prices
undercut · discount · devalue · cheapen · markdown · cut-rate · rock-bottom · bargain-basement · loss leader · price war
tender
Soft or sore
- procurementObtaining goods externally
- bidderOne who makes offers
- contractorHired construction professional
subcontractor · proposal · quotation · estimate · submission · vendor · supplier · award · specifications · terms
tactics
Methods to achieve goals
- negotiationDiscussion seeking mutual accord
- positioningArranging in specific locations
- leverageBorrowed capital for amplified returns
advantage · game theory · bluffing · risk assessment · competitive advantage · market share · predatory pricing
bidder
One who makes offers
- auctioneerConducts public sales
- reserveSupply kept back
- hammerTool for striking nails
- auctionsauction, auctioneer, auction house, auction houses, bidder
- Bidscounterbid, highest bidder, tender, no trump, grand slam
- biddingbidder, auction, tender, counterbid, sniping
- trick-takingtrump, trumps, trump suit, tricks, trick-taking