7 Factors That Affect An Option's Price

Time component of an option, Time Decay

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Download the. Click Upload Plugin at the top. Choose File and select the. Click Install Now and Activate the extension. Every Composite product consists of multiple building blocks called Components.

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For instance, a complete skateboard is using: a deck the actual board of the kita set of wheels, a set of trucks for mounting the wheels on the deck, a set of wheel bearings, some mounting hardware and optionally, some grip tape.

Each Component includes an assortment of different Component Options to choose from. Component Options are added to Components by choosing product categories, or searching for specific products. Composite vs Variable Products If you are familiar with Variable products, it might be easier to understand how Composite products are structured with an analogy: The properties of a Composite product are defined by Components just like Attributes define the properties of a Variable one.

Instead of attribute values, Components have Component Options, which are groupings of existing products.

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Before you create a new Composite product, some basic preparation is usually required: Once you have decided upon a final list of Components, ensure that all products you need to use as Component Options exist. In our skateboard example, these would be all the individually stock-managed decks, trucks, wheels, bearings and hardware kits that will appear as skateboard options.

Select the Composite Product type in the Product Data panel. Go to the Components tab. Click Add Component to add as many Components as needed. Assign a Name and Component Option theory in financial management to each Component — these fields are mandatory.

To add Component Options, you can either choose the Select products option and then search for and add products one-by-one, or you can choose the Select categories option and then select at least one product category. Publish to save.

Components of an Option

Only simple products, variable products and product bundles can be used as Component Options. Support for variable products is provided with some limitations.

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For details, check out the Frequenty Asked Questions. Component settings are organized in two sections: Basic Settings and Advanced Settings. Their configuration is documented in Component Settings. Custom Skateboard Builder composite. Composite Products that consist of static Components have many similarities with Product Bundles.

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However, there are some key differences between the two extensions: Composite products lack the advanced inventory management and reporting functionalities provided by Product Bundles. For example, with Product Bundles it is possible to quickly find out which bundles contain products that do not have sufficient stock.

Store Owner’s Guide – Basic Concepts

Product Bundles have a many-to-many database structure that makes it possible to run complex queries that involve bundled products — for instance, you can retrieve all bundles that a product belongs to. This is not possible with Composite Products.

The way Composite products look and behave in various WooCommerce templates is better suited for kitting applications, and not for static bundling. To better understand the difference between these two extensions, compare the Time component of an option Skateboard Bundle against the Build-Your-Own Skateboard Composite, and study the documentation of both extensions in detail.

Some child line items — one for each Component. Child cart items are grouped by their parent, and child quantities are kept in sync with the quantity of the parent. Select the General tab in the left menu.

Time Decay

Enter a Regular Price and, if needed, a Sale Price. Despite its limitations, this simple pricing configuration is sufficient in some cases. To do this, Composite Products lets you preserve the individual price of any Component by checking the Priced Individually time component of an option, which is located under the Basic Settings tab of all Components. The Priced Individually option.

Timepicker

The example that follows demostrates how to create a configurable Composite product by grouping some T-Shirts and Hoodies in 2 Components. The Build Your Ninja Outfit composite. The Build Your Ninja Outfit composite in the cart. Configuring the Build Your Ninja Outfit composite. A look at the General tab.

In cases similar to the Build Your Ninja Outfit composite, where at least one Component is priced individually, the Regular Price and Sale Price fields of the Composite product can be left empty. However, sometimes it might be desirable to define a static composite price and at the same time enable the Priced Individually option of one or more Components.

In this case, the defined composite price should be thought of as a base price, since it is always contributing a fixed amount to the total of the composite, regardless of its configuration.

Negative Component Prices The prices of all products contained in individually-priced Components must be positive. At the same time, the subtotals of individually-priced Components are displayed with an Option subtotal: prefix.

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To prevent this, download and activate this plugin. As you will soon find out, the extension provides many options for customizing the behavior and appearance of your Composite products.

In this example, the Ninja Outfit uses the Stacked layout, while Component Options are displayed using the Thumbnails style.