Competition needs to be considered when adding in overhead and profit for a bid price.

Name: Competition needs to be considered when adding in overhead and profit for a bid price.
Brand: Quizplus
Rating: 4.9 (31 reviews)

Question

Quizplus · Accepted Answer

Competition is a significant factor when determining overhead and profit for a bid price. The pricing needs to be competitive in the market to win the bid against other companies. If overhead and profit are too high, the bid price may be too expensive and not competitive enough to win the bid.

Competition Needs to Be Considered When Adding in Overhead and Profit