What is pricing reference product in SAP CRM-MD - Master Data?

SAP Term: pricing reference product

• Component: CRM-MD

• Component Name: Master Data

• Description: Product master record that the system uses as a reference for pricing purposes. The conditions that apply to the pricing reference product also apply to the product in whose master record the pricing reference product is stored. A pricing reference product must always have its own product master record.

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• Key Concepts: 
  Pricing reference product is a component of the CRM-MD Master Data module in SAP. It is used to define the pricing reference for a product or service. This reference is used to determine the pricing of the product or service in different scenarios. The pricing reference product can be a single product or a combination of products. 
  
  How to use it: 
  In order to use the pricing reference product, you must first define the pricing reference for the product or service. This can be done by entering the relevant information into the CRM-MD Master Data module. Once this is done, you can then use the pricing reference product to determine the pricing of the product or service in different scenarios. 
  
  Tips & Tricks: 
  When defining the pricing reference for a product or service, it is important to ensure that all relevant information is entered accurately. This will ensure that the pricing reference product is correctly calculated and that the correct pricing is applied in different scenarios. 
  
  Related Information: 
  For more information on how to use the pricing reference product, please refer to SAP's documentation on CRM-MD Master Data.