Is there a way to have a line item that acts as a collection of multiple products? 

For example, I have 5 different items, each with a unique price, data, etc. In addition to selling them individually, I'd like a catalog item that contains each of these five items collected together for a special price. Thus, I can sell a single collection and my inventory of each of the five items will be adjusted accordingly.

Can this be done in the product catalog or am I stuck trying to write a discount rule that modifies line items on the order for the same effect?