Explanation:

Also referred to as an incentive program, an incentive scheme is a formal scheme that is usually put to use when a company wishes to promote a certain kind of behavior or action amongst its customers. The key to be noted here is it is time specific.

This means that the scheme lasts for a fixed duration or time period only and then it expires or is terminated by the company. This can be done so while dealing with company workers as well as while dealing with customers that you wish to attract in order to increase the sales of your firm. An interesting way to understand this concept is simply that you pay a certain amount for the desired result.