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Product Design/Organization Question - Variants?

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Our store sells book and downloadable audio products.  We sell them in the following ways:

* Book + Downloadable Audio

* Downloadable Audio only

Because of a number of factors we ended up creating separate products for each of those, but it has become unwieldy to manage. What we would like is a way to have a single product for a given book with a format choice:  book+audio or audio-only. The price would be different, and we wouldn't need to ship the audio-only downloadable product. We would need to keep inventory separately since the physical paperback books must be printed, shipped, stored, etc.  Would "Product Variant" be the best approach to solve this organizational design issue, or is there a better alternative approach?


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