underbid

/'ʌndə'bid/

Thân thiện

A contractor underbids the competition to win the project.

Definition

1. Verb (transitive):
   • To submit a bid that is too low, especially one that is financially unrealistic or unsustainable.
   • To bid lower than a competitor, particularly in an auction, tender, or contract process.
   • (In card games, especially Bridge) To make a bid that does not reflect the true strength of one's hand.

Usage and Examples

• General/Business Context:
  • The new company underbid all its rivals to win the construction contract.
  • Be careful not to underbid the project; you might not cover your costs.
• Card Game Context:
  • He underbid his hand and missed the opportunity to play the contract.

Advanced Usage and Nuances

• "To underbid oneself": To bid lower than one's own capabilities or costs would justify, often leading to a loss.
  • In his eagerness to win the job, he underbid himself and ended up losing money.
• The term often implies a strategic or tactical error, either in business (risking profitability) or in games (failing to secure a potential winning contract).

Variants and Related Words

• Underbidder (noun): A person or entity that submits an underbid.
  • The underbidder was surprised when the contract was awarded to a higher bidder with a better reputation.
• Underbidding (noun/gerund): The act or practice of submitting bids that are too low.
  • Chronic underbidding is a dangerous strategy for a small business.

Synonyms

• Undercut: To offer a lower price than a competitor.
• Lowball: To make a deliberately or deceptively low offer or bid.

Antonyms

• Overbid: To bid higher than necessary or appropriate.
• Outbid: To bid more than someone else.

Related Phrases and Idioms

• "To underbid the market": To consistently offer prices below the prevailing market rate.
  • They gained market share by underbidding the market, but their profit margins suffered.
• While not a phrasal verb, the term is often used in the construction "to underbid on [something]".
  • Several firms underbid on the new highway project.

Học thuật

Verb

1. bid too low
2. bid lower than a competing bidder
3. bid (a hand of cards) at less than the strength of the hand warrants