Definitions

Advertising Specialty	An advertising specialty is imprinted merchandise, given to a recipient with no obligation or cost. Its purpose is to build awareness, goodwill and recognition. Users include just about every type of business from financial institutions and Fortune 500 companies to gas stations and lumber yards. Ad specialties are also used by non-profit organizations like schools, religious institutions, clubs, and little leagues. definition provide by ASI.
Business Gift	A business gift is presented by a business to clients, employees, or friends to show appreciation or goodwill. Besides being imprinted with the company name or logo, they're sometimes personalized with the recipient's name (for example, a pen engraved with Mary Smith). A CEO who buys leather portfolios for his or her salespeople as holiday gifts, or present clients with a personalized pen set for the patronage is using a business gift. definition provide by ASI.
Incentive and Awards	Incentives and awards are the fastest-growing segment of the promotional products market because of corporate America's increasing focus on motivation, workplace safety, goal setting and recognition. The products generally range in prices from a few dollars to hundreds of dollars and may be presented as part of a program with a system for earning points an small rewards along with way to a larger one. During the program, low-cost advertising specialties may also be used to reinforce the message. definition provide by ASI.
Premium	A premium is a product or service offered for free or at a reduced price to reward a specific behavior. For example, a salesperson who reaches a goal to make a commission, a dealer who commits to a major purchase to get a rebate or consumer who buys a box of cereal with a toy inside is motivate by a premium. Use of premiums falls into several categories, including self-liquidators, continuity programs, trading stamps, sweepstakes/contests/games, packaging and other point-of-purchase programs and mail-ins. The products used aren't typically imprinted, so premiums aren't promotional products in the truest sense, but they're related. Advertising specialties are often incorporated into premium programs, and premiums are sometimes incorporated in ad specialty programs.