Attribute: An attribute of a digital products could be “resolution,” and the value of this attribute for a particular product as camera that would be “10 megapixels.” Customers can filter a list of products by values of one or more attributes.A collection of attributes can customize to fit a certain type of product features. For paradigm, if you want to sell diverse kinds of smart phones on your website, you can create the smart phones attribute set which will include the simple attributes commonly shared by all of your smart phones. This may include price, color, size, gender, and brand.
Bundle product: Bundle product is components that are presented in variant ways and are made from existing products. You can configure how much products or what kind of sell is included with this transaction in your store.
Category: This is a user-defined product classification. A category can have any number of levels of subcategories. You can create the lot of products categories and sub-categories accordingly your requirement.
Configurable product: Product enables variant choosing options to your customers to select the any size of product. Suppose that, you can sell shoes in multiple colors and multiple sizes. You would have to create six variants as individual products and then add these six to a configurable product where customers can choose the size and color, and then add it to their cart.
Downloadable Product: Downloadable products such as a media file, that customer downloads from the your online store after purchase. These downloadable files can transmigrate on your server or be provided as URLs to any other server.
Grouped product: This enables you to display several parallel products on a isolated page. If you are selling chefs’ knives and you have the same knife in four sizes, you can make a grouped product to display all four of these sizes. Customers can select the size(s) that they want and add them to the cart from this page.
Cross-sell: Cross-sell products will appear next to the shopping cart. When a customer navigates to the shopping cart page, these products are displayed as cross-sells to the items already in the shopping cart. They are parallel to impulse buys, like magazines and candy at the cash registers in grocery stores.
Credit memo: A credit memo is a statement of credits; suppose that a credit for returned merchandise generates a credit memo. According to your store policy, you can apply the credit to future orders or refund the customer’s payment method.
Invoice: An invoice in Magento CE describes a substantiation of payment. More than one invoice can be associated with a single order. If the products in an order are shipped in multiple shipments, then an invoice is generated for each shipment for the products in that shipment.
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