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Bid price strategy in contraction bidding Introduction The bid price is the most important factor that is used to determine the successful bidder in a competitive tender. Sometimes the bidder submits a high enough bid price that the bidder can make a profit, but he loses the job. Sometimes the bidder submits a low bid price and gets the job, but he loses the profit. The bidder determines the bid price is based on the business objective. If the bidder wants to enlarge the market share, he will give a low bidder price to achieve that goal. If the bidder wants to make more profit, he will submit a reasonable high bid price. Therefore it is needed to be considered and discussed how to use the right price strategy to submit a bid price with lowest price and maximum profit. In this essay, a review of the bid price will be provided...

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