What is an item offered for free or at a reduced price to encourage consumer behavior called?

The term for an item offered for free or at a reduced price to encourage consumer behavior is known as a premium. In marketing, a premium is often used as an incentive to attract customers and encourage them to make a purchase. This strategy can enhance a brand's value proposition by providing additional perceived benefits that may influence the consumer's decision-making process.

For instance, a company might give away branded products or offer a free gift with the purchase of a higher-priced item. This not only enhances the attractiveness of the offer but can also create a sense of urgency, prompting customers to act quickly while the premium is available.

In contrast, bonuses or discounts generally refer to price reductions or additional monetary incentives without necessarily involving a physical item that adds value to the consumer's purchase. Gifts can be similar but do not always carry the same marketing implications as premiums, which are strategically designed to generate specific consumer behavior.