underquoting
Bidding too little
Underquoting is offering a price lower than appropriate or accurate, often to win a contract or sale.
A contractor might underquote to beat competitors, then struggle to complete the work profitably.
Insurance adjusters may underquote repair costs.
The practice ranges from honest miscalculation to deliberate lowballing: They underquoted the job by thousands.
Offer lower price
- tenderSoft or sore
- lowballDeliberately understate cost
- proposalFormal plan for consideration
- estimateInformed guess at quantity
contractor · procurement · submission · vendor · supplier · competitive · pricing · costing
Planned approach to goals
- maneuveringSkillful directional control
- negotiationDiscussion seeking mutual accord
- undercuttingCharging less than rivals
- predatoryExploiting the vulnerable
False or misleading statement
- fraudIntentional criminal trickery
- misleadingCausing false beliefs
- bait-and-switchFraudulent substitution tactic
- scamDishonest money-making scheme
dishonesty · exploitation · malpractice · unscrupulous · falsification · duplicity · predatory · unfair
Judge too low
- undervalueEstimate below true worth
- lowballDeliberately understate cost
- discountReduced price offered
- cut-rateOffered below usual price
markdown · undercharge · deflate · understate · miscalculate · shortchange · underassess
underbid
Offer lower price
estimate · contractor · procurement · submission · vendor · supplier · competitive · pricing · costing · offer
strategy
Planned approach to goals
- maneuveringSkillful directional control
- negotiationDiscussion seeking mutual accord
- undercuttingCharging less than rivals
predatory · squeeze-out · dumping · competitor · displacement
misrepresentation
False or misleading statement
- fraudIntentional criminal trickery
- misleadingCausing false beliefs
- bait-and-switchFraudulent substitution tactic
scam · dishonesty · exploitation · malpractice · unscrupulous · falsification · duplicity · predatory · unfair
underestimate
Judge too low
- undervalueEstimate below true worth
- lowballDeliberately understate cost
- discountReduced price offered
cut-rate · markdown · undercharge · deflate · understate · miscalculate · shortchange · underassess
underquotingoverquoting
Excessive use of excerpts
overpricing · overcharging · gouging · price gouging · fair pricing
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