Products, price books, and opportunity products
Key Takeaway
A product needs an active standard price before you can add it to a custom price book, an opportunity or a quote.
Products are the catalog of items and services your company sells. Each product has a standard price, which is its default price. Price books group products with prices for a specific use, such as a region or a customer segment. When a sales rep adds products from a price book to an opportunity, those opportunity products record what is being sold, in what quantity and at what price. The opportunity products also drive the opportunity's Amount.
Products, price books and price types
A product is an item or service your company sells. Together, your products and their standard prices form a base catalog. A price book is a list of products and their prices.
There are three price types:
| Price type | What it is | Where you find it |
|---|---|---|
| Standard price | The default price of a product | The standard price book |
| List price | A custom price for a product | A custom price book |
| Sales price | The actual price a rep enters for a product. It can match the list price or include a discount. | An opportunity or a quote |
Some products are paid for or delivered over time. For these products, product schedules set the payment and delivery cycles.