Define "promotional strategies" in retail.

Promotional strategies in retail refer to a set of tactics designed to communicate a retailer's product offerings effectively and stimulate sales. These strategies typically include various marketing activities such as advertising, sales promotions, public relations, and in-store displays. The primary goal of these tactics is to enhance customer awareness, encourage foot traffic, and ultimately drive purchases.

Retailers utilize promotional strategies to highlight new products, clear out old inventory, or increase customer loyalty. For instance, a retail store might run a special advertising campaign to promote a new product line or use social media to engage customers and inform them of upcoming sales events. By successfully implementing these strategies, retailers can create a sense of urgency and excitement around their offerings, thereby boosting sales and achieving business objectives.

The other options, while related to retail operations, do not encapsulate the essence of promotional strategies. For example, improving employee performance is more aligned with training and development rather than promoting products. Reducing supply costs focuses on operational efficiency, while seasonal price adjustments pertain specifically to pricing strategies rather than broad promotional tactics.