Click the Content tab on your primary navigation menu. Next select the Products tab from the horizontal grey menu.
You are now presented with your Products manager. You will see a column to the left-side with three sections "Catalog-Product-Product Types". Your products are typically organized within Catalogs, for instance T-Shirts, Hats, or Sweatshirts. These help to organize your products. To create a new Catalog click the "Catalog" button and fill in the Catalog Settings to the right: title of the Catalog, Catalog Description, parent catalog and master page. If you are not sure either leave it blank or check the Catalog Settings for your existing Catalogs.
You are now ready to create your Product Type. The Product Type is the blue-print for your product(s). Depending on how your existing products were created each of your products may have its own product type or you may share product types across several products. Familiarize yourself with your current product to see if you can use an existing product type. View an existing product's Product Settings and see if the "product type" label is only attached to that product. If so you will need to create a new product type before continuing.
Click the 'Product Types" button. You are now presented with all your existing products types. Click the "Create Type" button in the upper left corner.
The Product Builder appears and you can now title this product type. Just type in the field "type name" to the left column. You are now ready to add other options like a model number or image gallery. These are not editable by your customer. This is NOT where you add size/color options. Click the "Product Elements" and you will see several pre-fab elements. Just drag-n-drop the Product Elements to the right side. Once they appear to the right click on-top until highlighted blue. You can now edit the new Product Element to the left. For example: I dragged the Standard Product Element "Checkboxes" over to the right. It appears as "Untitled Field". To edit this select the field and edit the title to the left, typing "Out of Stock", then fill in the options below separated by commas.
Once you have finished adding "Product Elements" like Model No or Image Galley, click the "Save Product Type" button in the bottom right corner.