What is the marketing strategy of enticing consumers with special offers called?

The strategy of enticing consumers with special offers is known as Bait Advertising. This technique involves attracting potential customers by advertising products at a low price, creating an appealing incentive for consumers to engage with a specific brand or retailer. The goal is to draw in customers and often encourages them to explore the full range of products, even if the initially advertised product may not be available at the advertised price or in the quantity expected.

This strategy is effective because it taps into consumer psychology, leveraging the excitement of a deal to drive traffic, increase visibility, and ultimately encourage sales. Bait Advertising can create interest and urgency, prompting consumers to take action quickly before the offers expire. It is also a way for businesses to build their customer base by turning the initial bargain into repeat customers who may return for regular-priced items in the future.