Magento Product Types
Magento has various product types to choose from when creating new products, allowing for your to merchandise in a very flexible way. It is important to understand the differences between them so that you can choose the appropriate types for your items and maximise your merchandising efforts. Below are some of the more elusive product types which we are often asked about (not all types available).
A Magento grouped product should be used when you want to present/group a combination of (standalone) Magento simple products together as one.
A good example of this is a living room set (consisting of a matching sofa, chair and ottoman), or a dishes set (consisting of a matching cup, saucer and spoon).
A key consideration is that a specific price cannot be set for a grouped product. You can however, define a discounted amount for the grouped (for example, the grouped product is set as 10% cheaper then if you were to purchase the simples individually)
A Magento configurable product should be used in the instance that you want to present one item with selectable variations. As each option represents a separate simple product with a distinct SKU, inventory tracking of the variations is possible.
A good example of this is always articles of clothing, which you would want to present as 1 product with selectable options typically for size and color/patterns etc.
Worth noting as well that specific options can be tied additional costs (e.g. you can make a particular color more expensive)
A Magento bundle product should be used in the instance that you want more complex product combinations, so that the customer can essentially build the end product that they require.
A good example of this is a computer with bundle options such as case, ram, harddrive, etc), allowing the customer to build the kind of complex product that they want.
A bundle product is most often confused with a grouped product, however the most important distinction is that a bundle products price can be set to either be dynamic (a product of the simples selected) or fixed.