The Microsoft Product Team has done a good job of giving us various ways to find the right record when populating a lookup field in Dynamics CRM. They include:
Select the Lookup Icon
This is the ‘standard’ way that many use the lookup feature. It requires several clicks so I generally avoid it or use it if all other options fail to return the record needed.
Recently Used Values
Begin typing a value in a lookup field and CRM will display recently used values to include the ability to delete values from the list.
Type & Tab
Begin typing a value and tab out of the field. CRM will display the record if only one match was found or display the indicator that multiple matches were found. You can select the correct value by selecting the indicator.
Type & Display
Begin typing a value and select the Enter key from your keyboard. CRM will launch the search option from within the lookup field and display a list of possible values.
Try them out to discover which is your favorite.
Cheers
Donna Edwards 
Hi Donna, Great post. For a list of all the Recently Used Values you just have to double click on the empty lookup field.
Donna, How can I select multiple items from lookup dialog?
Hi Rohit, I’m not aware of a way to select multiple items from a lookup dialog. That is a polymorphic relationship and is only available on certain fields. I don’t think it is possible. I suspect you would need to write some customization that did not include the use of a lookup field.
Thanks Donna for such a quick reply,
I want to create templates containing different product so that when I select any template I get the products grouped in the template. Will you please suggest me any way to achieve this? any idea?
Unfortunately, I don’t have a good suggestion for how to accomplish that as I’m not fully understanding the requirement. There are most likely ways to make that happen using filter selection in the report but not sure. If you want to use a template, I suggest MSCRM Add-ons. http://www.mscrm-addons.com/
Thanks Donna 🙂