Here's an overview on how to create a Master Type, including the types and the steps involved in creating a Master Type.
To create a Master Type, perform the following steps:
1. Navigate to Platform Studio > Platform Masters > select Common Master.
2. Click the Master Type drop down.
Figure: Select Master Type
There will be System Defined Master Types listed out of the box.
To create a New Master Type, click Add New Master Type.

There are three steps to creating a new Master Type.