After setting the source file type and the source file directory as well as the schema type Extended Products some options will appear in the navigation bar:
3. Conditions
4. Parent Record Identification
6. Misc Options
To get to the setting Easy Mappings you either click on the right arrow button in the lower bar or you click on Easy Mappings in the navigation bar.

You can always switch between the options by clicking on the arrow buttons or by clicking on the particular option in the navigation bar.
The settings Easy Mappings, Virtual Columns, Conditions and Merge Options are already explained for the contact import.
For the Misc Options there is an additional setting:

If you want to import a product that is not in Act! yet then IMPORT|IT will create a new one.
The setting Parent Record Identification is already explained for the company import.
All explanations can be applied to the typical fields of the products.