Product Catalog Management Core has the following features:

Product offering: Defines how the enterprise customer wants to sell a product. It contains customer-facing information such as the product description, pricing, and product characteristic options.
Support for product offers, entitlement offers, configuration offers that model product offer hierarchies and bundles, and product lifecycle management.
Product specification: Template for defining a product offering that a service provider sells to the customer.
Characteristic: Provides the options available for a product offering. Characteristics can have one or more options.
Product offering catalog: Groups or similar product offerings targeted for a market or customer segment. Support for sales catalogs and technical catalogs.
Specification relationship: Defines the relationship between different products and specifications.
Embeddable product catalog UI in opportunity/quote/order flow to enhance user experience while searching and browsing for product offers.
Embeddable configuration UI in opportunity/quote/order for configuring product offers and specifications [available only with Product Configurator app]
Support for needs templates and questionnaires to capture customer needs and recommend offers based on needs.
Support for catalog entity export/import from one ServiceNow instance to another
Support for offer hierarchies and spec hierarchies in bundled offers along with commercial catalog to technical catalog mapping
Support for multiple configurations of a child offer in Configuration UI for a configurable offer
Support for product catalog filtering based on eligibility rules or sales agreements
Support for export of different catalog entities such as product offers, catalog, catalog categories, specifications along with hierarchical structure wherever applicable, to a JSON file