When creating products in the Inventory, you can add extra Product fields, that are used to add extra information and description to one's products.
How to change and use the extra product fields:
Navigate to Settings.
Go to the Inventory tab.
Then scroll down to Extra fields
Here you have an overview of the various expanded Product fields. You can always edit the fields to whatever makes sense for you.
You can also choose whether or not they should be required fields to fill or not by checking or unchecking the little box.
At the bottom of a product you can see the expanded Product fields that you have added, which you can then add some text to, in the text field under each of the different Product fields. To get more information about this window and how to edit a product, click here.