A product is a type of merchandise or service that a company sells and supports. Product models identify different types of products, such as service, hardware, software, or consumables.

A product model is a specific version or configuration of a product. Build hierarchical product models that represent the set of products that your organization offers to its customers and define relationships between different product models. Define whether a product is tracked as an asset, a CI, or both. Additionally, identify or create the CI and asset classes to capture configuration information for product models.