Difference between products and versions

I am wondering if there is any difference from my (programmer) perspective if what I sell should be versions of the same product or different products.I have 3 version of a product. They have very similar functionality but differ when it comes to some features/minor adjustments. Is it better for me to make 3 version of one product or 3 separate products ? It would be much more convenient for me to have all the keys in one place in your admin page.

Is it better for me to make 3 version of one product or 3 separate products ? It would be much more convenient for me to have all the keys in one place in your admin page.

Probably 3 versions of the same product or even just use 1 version of the same product and use custom license fields.

Yeah, that makes sense. Thank you!