fidelityim makes a good suggestion. You should definitely bid according to performance of your keywords match types. In all but the most rare cases advertisers' performance will match the tiers fidelityim has mentioned exact > phrase > broad (not including the near exact, near phrase, and broad modified match types Google has added).
There is one point that fidelityim made that I don't agree with... I think it's worthwhile to create separate ad groups and even campaigns for different match types. The main reasons being that it allows you to:
1. View performance by match type at a glance in the absence of sophisticated tools like Kenshoo or Marin Software. This performance will vary by a huge margin so making it easy to see your winning buckets is very helpful given that everyone's time is limited.
2. You can budget your match types based on performance. By analyzing your search query reports, broad and phrase matched queries can be great feeders for your exact match campaigns, so you'll probably want to limit your spend on those terms until you are sure about the performance at a query level. This can only be achieved by separating these match types into their own campaigns.
Cheers,
KT