Price List type is a very important SAP SD Pricing master data. They are freely definable and assigned to the Customer Master. So an SAP Sales Order created for a particular customer will have that price list type available in pricing. Here are the steps used to define them. Use this post to create new price lists types in SAP to solve the SAP SD Pricing Exercises in SAP SD Training.
Step No. 1 : Go to [ SPRO -> IMG -> Sales and Distribution -> Basic Functions -> Pricing -> Maintain price relevant master-data fields ]
Step No.2 : Choose “Define Price List Categories for Customers” and click on Choose
Step No.3 : Click on new entries and create your own price list type.