Promotional pricing is a marketing strategy where businesses temporarily reduce the price of a product or service to attract customers. This approach can help increase sales volume, clear out inventory, or introduce new products. Common examples include discounts, buy-one-get-one-free offers, and seasonal sales. This pricing tactic is often used during special events, holidays, or product launches to create urgency and encourage purchases. By offering lower prices, companies aim to enhance customer interest and boost brand visibility, ultimately leading to increased market share and customer loyalty.