Question

Why don't I see the option to put Maximum Bid amount while opting for Manual CPC with 'Optimize for Conversions' option?  

Answer 1

Because google sets bids according to their algorithms when you choose automation

Comments

@like1844 Then why would someone choose Manual CPC as the bidding strategy, if i am not allowed to set my cost per click.  

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@tench manual CPC will let you set bids.  
https://support.google.com/google-a...en-GB

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@like1844 see the screenshot, there is no place for me to specify my maximum bid amount

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@like1844 have you saved the ad and looked at the ad in list view? I recently put an ad on and stumbled over something similar. I saved the ad and then I could see the maximum bid field with a suggestion

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@tench this isn't where you set your bids. Go to the keyword view

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@like1844 ya but there is an option u r presented with, to set ur max cost per click

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@tench . Enhanced cost per click (ECPC) helps you get more conversions from manual bidding. ECPC works by automatically adjusting your manual bids for clicks that seem more or less likely to lead to a sale or conversion on your website. Unlike Target CPA, which automatically sets bids based on your target cost per conversion, ECPC will try to keep your average CPC below the max. CPC that you set (including bid adjustments) when optimising for conversions.  
https://support.google.com/google-a...64964

Answer 2

You can do it by using portfolio bids.  

Comments

@levinson5 but then, that does not give me the option of "enhanced "