What approach should be taken to develop a promotional strategy?

The approach that involves assessing market trends, understanding customer preferences, and planning marketing initiatives is crucial for developing an effective promotional strategy. By evaluating current market trends, you can identify what is resonating with consumers and how the market is evolving, which allows for timely and relevant promotions. Understanding customer preferences ensures that the promotional strategies are tailored to meet the desires and needs of your target audience, leading to increased engagement and sales.

Additionally, planning marketing initiatives that target specific goals can help create a coherent and structured approach to promotions. This might involve identifying key selling seasons, aligning promotions with product releases, or utilizing insights gained from previous campaigns to refine future efforts. A well-rounded strategy that combines these elements is much more likely to succeed compared to the other options, which lack the necessary depth and consideration for market dynamics.