Companies Use Early Retirement Incentive Programs (ERIPs) To

question 23

Multiple Choice

Companies use early retirement incentive programs (ERIPs) to:

• A) increase the number of experienced employees.
• B) create job opportunities for people inside the companies.
• C) add new job positions after employees retire.
• D) replace less-experienced employees with retirees.

---

Definitions:

Product Differentiation

Strategies employed by companies to make their products or services stand out from those of competitors in the eyes of consumers.

Advertising

The practice of crafting ads for the marketing of products or services.

Price Competition

A type of rivalry between businesses where the main competitive factor is the price of goods or services.

Product Differentiation

The approach of making a product or service stand out from the competition to appeal more to a specific target audience.