Shakeout vs Maturity phase

CFA Level I
#1

I seem to be missing questions revolving around the distinction between Shakeout and Maturity and even sometimes Decline.

Can someone distinguish these three phases for me, especially in terms of price competition, capacity levels, and profitability. Does concentration levels have anything to do with these phases? I’m guessing it increases the closer it gets to decline and then is most concentraded in the declining phase.

#2

The difference between shakeout and maturity is the increasing competition between a lot of firms that squeezes margins to a point where many fail, hence the term shakeout. A mature market has fewer players but is extremly competitve and subject to high barriers to entry.