Difference between update and editing in controller - laravel

My table has the option edit. A row can be updated and saved to the database. While I was trying to implement this option I came across uncertainty. What do I have to do with the data from my edited row when it arrives at my controller? It doesn't seem clear to me do I have to use the edit, the update or combine them both? Do I need edit to find the id of the row that needs to be updated?

I am using the following code in methods to send data to my controller

                <template slot="actions" slot-scope="row">
                <span @click="updateProduct(row.item);" class="fas fa-pencil-alt green addPointer"></span>
            </template>


        updateProduct: async function(productData) {
            axios.post('/product/update', {
                productData: productData

                .catch(function(error){
                    console.log(error)
                })
            })
        }

In my controller, I think I have to find the id. I am pretty sure I am confusing different methods together. Thanks for any input.

public function edit()
{
$product = Product::with('id')->find($id);
// do something with it
}
    public function update(Request, $request){
    $product->update([
        'name'  => $request->productData->Name,
        'description' => $request->productData->Descr
    ]);
    }

the difference is significant. Edit is for displaying a form to apply changes and Update is used to set them up to server.

Edit is via GET http Update is via PUT http