What you're talking about is called a cascading combo box/list box arrangement
To support this you would want an arrangment like:
Code:
tblProduct
Prod_ID Prod_Name
1 Product A
2 Product B
tblProductVersion
PV_ID Prod_ID Version_Text Version_Date ---> other version specific information
1 1 1.0 1/1/2013
2 1 2.0 1/1/2014
3 1 2.2 1/1/2015
So in your first combo box you would be referencing the product table
IN your second combo box you would be referencing the product version table, with a criteria in the query driving the combo box of [forms]![FORMNAME]![PRODUCTFIELDNAME]
where FORMNAME would be the actual name of your form, and likewise PRODUCTFIELDNAME would be the name of your first combo box (product list)
then in the ON EXIT property of the PRODUCT combo box you would have code like
PRODUCTVERSIONFIELD.requery