A mature firm is a company older mature company that is well-established in its industry, with a well-known product and loyal customer following. Mature firms are categorized by their business stage, whereby they typically exhibit slow and steady growth. Mature companies also tend older mature company that have several equally well-established competitors, making price competition a significant factor in their ability to increase profits. Mature firms have been around for many years and sell products that consumers and businesses use on a regular basis. However, mature companies usually face ongoing and significant competition. Companies in the start-up and expansion phases tend to experience significant growth that exceeds the growth rate in the economy. As a company ages and matures, its growth rate slows and trends with the growth in the overall economy.