Greeley, Inc. is in the talking stages of developing a new product. The marketing, production, and R&D members of the development team start talking about the various costs that will arise and when they will arise and how there will be times they will overlap and by the end of the discussion, nothing is settled other than a bit of confusion. Ms. Manson, the team member from marketing, knowing about the product life cycle from a marketing standpoint, wonders if this is a similar issue and contacts a professor at the local university to get more information.
Required: You are the professor. Answer Ms. Manson's request in simple terms.

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The Answer of Greeley, Inc. is in the talking stages of developing a new product. The marketing, production, and R&D members of the development team start talking about the various costs that will arise and when they will arise and how there will be times they will overlap and by the end of the discussion, nothing is settled other than a bit of confusion. Ms. Manson, the team member from marketing, knowing about the product life cycle from a marketing standpoint, wonders if this is a similar issue and contacts a professor at the local university to get more information.
Required: You are the professor. Answer Ms. Manson's request in simple terms.