What is material price group in SAP SD - Sales and Distribution?

SAP Term: material price group

• Component: SD

• Component Name: Sales and Distribution

• Description: A way of grouping materials to which you want to apply the same conditions.

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• Key Concepts: 
  Material price group is a feature in SAP Sales and Distribution (SD) that allows you to assign a specific price to a material. This price is then used in sales documents, such as quotations and orders, to determine the price of the material. The material price group can be assigned to a material master record or to a customer master record. 
  
  How to use it: 
  To assign a material price group to a material master record, go to the Sales: General data view in the material master record. In the Pricing tab, select the appropriate material price group from the drop-down list. To assign a material price group to a customer master record, go to the Sales: General data view in the customer master record. In the Pricing tab, select the appropriate material price group from the drop-down list. 
  
  Tips & Tricks: 
  When assigning a material price group to a customer master record, make sure that you select the correct currency for the customer. This will ensure that the correct prices are used when creating sales documents for that customer. 
  
  Related Information: 
  For more information on how to use material price groups in SAP SD, please refer to SAP Help documentation.