Definition, Meaning & Synonyms
underbid
verb
/ˈʌndərˌbɪd/
Definition
To submit a lower bid than another bidder in an auction or competitive situation.
Examples
- The contractor decided to underbid the project to secure the contract.
- In a competitive market, it’s common for companies to underbid each other to gain more clients.
- She didn’t want to underbid, fearing that it would undervalue her work.
Meaning
Underbidding occurs when someone offers to do the same work or provide the same service for less money than their competitors.
Synonyms
- Undersell
- Lowball
- Discount
- Beat a competitor’s bid
