No condition types exist for product type 70B (inform system administrator)

Dear Experts,

While creating the Derivatives Class using T.Code: FWZZ - Class, i am getting below error.

No condition types exist for product type 70B (inform system administrator)

Message no. 69004

Procedure

Contact your system administrator.

Procedure for System Administration

In Customizing, assign a condition group to the product type by choosing "Define Product Types".

You must then assign the relevant condition types to this condition group by choosing "Define Condition Groups".

Thanks & Regards,

Vijay