A Product is what controls the payment total for an Event registration.
Products are commonly used to allow users to register for paid events (like a seminar or conference) or collect additional required (and sometimes paid) information.
Products can be free (so, collect $0).
A Product is one of the required items in order for Event registration to be live.
Option Groups can optionally be associated with Products to provide additional options during registration. For example:
Free potluck (Product) with optional free childcare (Option Group).
Free Bible study (Product) with required paid book materials (Option Group).
Paid event (Product) with optional extras (Option Group).
Paid event (Product) with no optional extras.
Products can be reused for multiple Events, over multiple years. The only time this is not a good idea is if you are using the max- quantity within an Option Prices since registrants from other Events will be applied to that quantity.
When reusing a Product, Option Prices can be inactivated or added without issue. Creating a View within the Option Price Sub-page of the Option Group can help you see which ones are active and which aren't. See Creating Option Groups & Prices for more information.
Video Topics: Working with Products and Options
0:29 - Event Registration Process
1:21 - Creating a Product with Options
2:22 - Adding Product Option Prices
5:14 - Testing the New Product