Final answer:
In the maturity phase of the product lifecycle, competition is stable, as the market is saturated, and the number of competitors is consistent and established.
Step-by-step explanation:
A characteristic of the maturity phase of product lifecycle is stable competition. During this phase, the market for the product is fully saturated, which means that nearly all potential customers have been reached, and the number of competitors has stabilized. Firms in this stage focus on differentiation and maintaining their market share rather than expanding it. They've optimized production and cost conditions and understand the market structure of the product. A stable competition environment represents an industry where no single firm has significant market power to control prices or market conditions, leading to predictable and consistent competition among firms.