Definition

1. Verb:
   • To quote a price lower than that quoted by (another seller): To state a selling price for goods or services that is less than the price offered by a competitor.
   • To offer for sale at a price lower than the market price: To propose a selling price that is below the current standard or prevailing rate in the market.

Usage and Examples

• Verb:
  • The new supplier tried to win the contract by underquoting all the other bidders.
  • To gain market share, the company often underquotes its competitors by 10%.
  • It is risky to underquote the market price significantly, as it may not cover your costs.

Advanced Usage

• "to underquote someone": To deliberately offer a lower price than a specific competitor.
  • We can secure the project if we underquote the leading firm.
• "to underquote the market": To set a price below the general level of prices in the market.
  • They decided to underquote the market to attract their first customers quickly.

Variants and Related Words

• Underquotation (noun): The act or an instance of underquoting; a price that is quoted lower than others.
  • Their success was due to a strategic underquotation.

Synonyms

• Undercut: To sell goods or services at a lower price than (a competitor).
• Undersell: To sell at a lower price than (another seller).

Antonyms

• Overquote: To quote a price higher than that of others or the market rate.

Verb

1. quote a price lower than that quoted by (another seller)
2. offer for sale at a price lower than the market price