diff --git a/addons/product/models/product_pricelist.py b/addons/product/models/product_pricelist.py
index de1fd231b8f..22eb74a476e 100644
--- a/addons/product/models/product_pricelist.py
+++ b/addons/product/models/product_pricelist.py
@@ -416,12 +416,12 @@ class PricelistItem(models.Model):
         default='3_global', required=True,
         help='Pricelist Item applicable on selected option')
     base = fields.Selection([
-        ('list_price', 'Public Price'),
+        ('list_price', 'Sales Price'),
         ('standard_price', 'Cost'),
         ('pricelist', 'Other Pricelist')], "Based on",
         default='list_price', required=True,
         help='Base price for computation.\n'
-             'Public Price: The base price will be the Sale/public Price.\n'
+             'Sales Price: The base price will be the Sales Price.\n'
              'Cost Price : The base price will be the cost price.\n'
              'Other Pricelist : Computation of the base price based on another Pricelist.')
     base_pricelist_id = fields.Many2one('product.pricelist', 'Other Pricelist')
diff --git a/addons/product/views/product_pricelist_views.xml b/addons/product/views/product_pricelist_views.xml
index 9f89adb2cc7..11493e82d2f 100644
--- a/addons/product/views/product_pricelist_views.xml
+++ b/addons/product/views/product_pricelist_views.xml
@@ -60,7 +60,7 @@
 
                         <label for="" string="New Price ="/>
                         <div>
-                            <span attrs="{'invisible':[('base', '!=', 'list_price')]}">Public Price  -  </span>
+                            <span attrs="{'invisible':[('base', '!=', 'list_price')]}">Sales Price  -  </span>
                             <span attrs="{'invisible':[('base', '!=', 'standard_price')]}">Cost  -  </span>
                             <span attrs="{'invisible':[('base', '!=', 'pricelist')]}">Other Pricelist  -  </span>
                         </div>