Which of the following describes promotional strategies in retail?

Promotional strategies in retail are primarily focused on communication and engagement with customers. This involves the methods and tactics used to inform potential customers about the products available and to inspire them to make purchases. Promotional strategies can include advertising, sales promotions, special events, and social media marketing, all aimed at increasing awareness of the retail offerings and driving sales.

The emphasis here is on how these strategies are designed to attract customers' attention and motivate them to buy, which is the essence of promotion in the retail context. This approach is vital for creating a competitive edge in the marketplace and enhancing customer relations.

The other options delve into different aspects of retail operations. While pricing, competitive research, and product development are all important components within retail, they do not specifically encapsulate the concept of promotional strategies as effectively as informing and encouraging purchases do.