Need some clarification on Replacement Path with Variable

Hello Experts,
Need some clarification on Replacement Path with Variable.
We have 2 options with replacement path for characteristic variables i.e.
1) Replace with query
2) Replace with variable.
Now, when we use  "Replace with variable" we give the variable name. Then we get a list for "Replace with" as follows:
1) Key
2) External Characteristic Value Key
3)Label
4)Attribute value.
I need detailed explanation for the above mentioned 4 options with scenarios.
Thanks in advance.
Regards
Lavanya

Hi Lavanya,
Please go through the below link.
http://help.sap.com/saphelp_nw70/helpdata/EN/a4/1be541f321c717e10000000a155106/frameset.htm
Hope this gives you complete and detailed explaination.
Regards,
Reddy

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