Products are the backbone of any system. Products are the physical products or services that you sell to customers. Your sales reps can use the products to generate sales quotes, marketing campaigns, contracts, or orders. Your service reps might also use products to create customer service cases. When you see the detail page of an opportunity, quote, order or service contract, the opportunity product related list, or the quote line items, the related list displays the linked products for that record.

Once you have listed all the products in Salesforce, then you can associate it with multiple price books with different prices. Price books are used for selling products at different prices based on the geography and business year, or based on the agreement with a customer:

PricebookEntry is a junction object that has an associate product in a price book. It means you can add one product to multiple price books. There are two main prices in price books. One...