Virtual Products
Virtual Product is a product that does not require shipping or inventory. It is generally used for warranties or services.
You can create the virtual product in Store Manager for Magento by clicking on "Add Product" button or using a right mouse button click and selecting "Add Product". In the opening window, you can select attribute set for current
the product which will be used during creating the virtual product and product type. You can select one of the existing attribute sets or you can create a new attribute set.
Next steps of creating the virtual product are the same as by simple product.
Virtual Products are those that do not have a physical or digital counterpart. They cannot be shipped and do not have a download link.
This product type might be used for services like House Cleaning; One-Year Newsletter Subscription
NOTE: If using Virtual Products for “subscriptions”, it is important to note that there is no built-in way to manage auto-renewing subscriptions. Purchasing Virtual item, the client makes the one-time purchase.
Please, also check for the useful article and video tutorial here: