There are two types of edits you can make to an existing product. The first type of edit is the "quick edit" which does NOT require that you resubmit your product for approval, and the second type is the "detailed edit" which WILL require that your product be resubmitted for approval.
Regardless of the type of edit you want to make, you start by simply going to your "My Products" page and clicking on the EDIT button next to the product you want to edit. This will open up the exact same 6 step process that you saw when you first added your product. You can then jump to any of the components and make the necessary edit(s).
There are some components of your product that you can edit quickly and easily, such as the price, categories, tags, satisfaction guarantee and delivery method. These edits will NOT require that you resubmit for approval, and the changes are instant.
There are also some components which will require that you resubmit your product for approval should you want to make any changes. These components are the ones associated with your product description (such as title, short and long description, and sales page). You will notice that these components are disabled when you first come to edit your product. This is because in order to edit any of these components, your product must first be removed from the marketplace. There is a note at the very top that explains this and a link to proceed.
Please note that you will NOT be permitted to make these edits if your product is currently being offered as the "free grab" item. In this case, you will need to wait for the "grab" offer to complete before making any edits.
You should also note that any active promos you have running will be instantly stopped when you remove your product from the marketplace to make these edits. You will then need to create new promos for your newly approved product if you wish to do so.