The menstrual cycle involves hormonal changes that prepare a woman's body for pregnancy, occurring approximately every 28 days, although cycles can vary from 21 to 35 days. It consists of four main phases: menstruation, follicular phase, ovulation, and luteal phase, where each phase plays a specific role in preparing for potential conception. If fertilization does not occur, the cycle concludes with the shedding of the uterine lining, marking the start of the next menstrual period.