Assign Products to Accounts

We are using CRM 2015 and are currently implementing Case Management for Customer Service.

We are in the software industry and sell software suites that are broken down in modules.

We need to assign those suites/modules to Accounts with cascading dropdown so we can choose the suite and then the module related to that suite. Of course, only the suites/products that the customer previously bought would show in the dropdowns.

We were wondering if we would be able to to this using the Product families/products.

Or do we need to create custom entities to create/manage the suites.

Any help is appreciated.