Exact-Broad-phrase keywords

If I’m using a keyword like “bicycle”, should I add this keyword three times?
bicycle exact
bicycle phrase
bicycle broad

not in the same campaign.

you would need to run each in a separate campaign because bicycle broad would cover both phrase and exact.

if you have a keyword like bicycle then just go with broad. Phrase and exact match really needs multiple keywords to be effective so;

“electric hybrid bicycle” would be perfect for exact match

“red girls bicycle” would work well with phase match as people could search for girls bicycle red.

Just using bicycle is not really a good keyword except for broad match - it is also too broad to be of any use and will cost a lot of money and a high click through rate but low conversions.

Using the term bicycle would show your ad to people who are not interested in buying a bicycle such as people looking for books on bikes, clothing for bikes, accesories for bikes etc. low click through rates push up the cost of ads and reduce the frequency of display.

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Like suggested by @Haley, it is no good running bicycle in all match types. But if due to any reason you do want to target “bicycle” in all match types, then I will suggest changing bid for each type. So keep BROAD bid lowest then increase slightly for Phrase and then more increase for EXACT.
But you need to first decide what your strategy is, “bicycle” to me is very broad anyway. I will keep bids low. Why not run an AUTO campaign first and then download all keywords that your ad appeared for. That report might help you decide how you want to bid for each match type.

There are various ways to do it. But if you are new to adverts, then I will do keyword research first then strat campaigns. It might take you longer but you will waste less money, OR as I suggested above, run auto campaign, keep bids around suggested bid amounts and see how you go. You can put daily budgets etc to make sure you don’t end up spending a lot of money.