The more you bid, the more likely you are to win the auctions for your ad to be shown. You should think about balancing the benefits of increased visibility and the number of clicks leading to sales, with the cost of paying for those clicks.
Whether you outbid your competition by a lot or by little, we always automatically calculate your payment to be the smallest amount needed to beat your competitors.
We offer you some bid suggestions based on the overall competition. But these are just suggestions and you should optimize based on your unit economics and the willingness to pay for additional product page visits.