What is product type in SAP CRM-MD - Master Data?

SAP Term: product type

• Component: CRM-MD

• Component Name: Master Data

• Description: General classification of products, such as material, service, or financing. Material: products in the conventional sense such as PCs, software, tables Service: services such as maintenance and repairs Warranty: product guarantees, including services such as repairs or exchange of parts Financing: financing products such as leases and loans Intellectual property: the result of creative work, such as films or books The product type describes the basic characteristics of a product and determines which set types are allowed.

Smart SAP Assistant

• Key Concepts: 
  Product type is a classification of products in the CRM-MD Master Data component of SAP. It is used to group products into categories, such as raw materials, finished goods, and services. Product types are used to determine the pricing and availability of products in the system. 
  
  How to use it: 
  Product types are used to classify products in the CRM-MD Master Data component of SAP. When creating a new product, the user must select a product type from the list of available product types. This will determine the pricing and availability of the product in the system. 
  
  Tips & Tricks: 
  When creating a new product, it is important to select the correct product type. This will ensure that the pricing and availability of the product are accurate in the system. 
  
  Related Information: 
  Product types are related to other components of SAP, such as pricing and availability. It is important to understand how these components interact with each other in order to ensure that products are accurately classified and priced in the system.