How do I edit or delete a "Product"?

How do I edit or delete a "Product"?

Edit/Delete: To edit or delete values in the "Products" picklist field:

Login using an account that has 'Administrator' privileges.
Select Requirements tab at the top, and click Add/Edit Field Values link below the tab.
In the resulting page, click add/edit values link next to "Products" field.
In the "Edit Field" page that opens, click edit or delete links next to the desired values.
When you're done editing/deleting products, click "Save" button.