Go to Products>Add New. Product is a custom page, where you can add the name and description of the product as post title and content. You can add short description of the product in Short description content area (visible with some of the views) and proceed to Product data box:
Data tab is designed for specifications of the product. Here you can add product model, price, choose discount, tax, set final and market prices, define amount in stock (for unlimited option tick the checkbox) and finally fill in values for SKU (Stock Keeping Unit), UPC (Universal Product Code), EAN (European Article Number), JAN (Japanese Article Number), ISBN (International Standard Book Number) and MPN (Manufacturer Part Number) if applicable.
In Links tab you can add label (e.g. overlays for New, Sales and etc.) to the product and license pages (for terms of product purchase and usage).
For adding parameters or inherit them from category parameters use Parameters tab.
In Shipping tab you can enable shipping for the product and fill in shipping details such as weight and product dimensions. Units for both can be changed in Options menu.
In Media tab you can add various images for the product, as well as include a video.
To make the product page SEO-friendly you can add its own metadata in Meta tags: meta title, meta description and meta keywords.
On the right hand you can choose Product Category, add tags, fill in or choose parameter values and select manufacturer.
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