What is Multiple PRICE LISTS in B2B2C?

A company can create and maintain different price lists under price list types. These price lists can be revised and old price lists can be archived. All price lists are maintained on a with-effect-from  date that specifies the date from which the price list gets in-force. Whenever a user publishes the new price list, the system sends out notifications to the customers set with it as a base price list.