Marketing channels & value networks

A marketing channel is a set of independent organizations that deliver value by making a product available for use or consumption. It comprises intermediaries like merchants who buy and resell products, and agents who negotiate on a producer's behalf without taking title. Intermediaries carry, promote, and sell the product. Marketing channels are important because they don't just serve existing markets - they help create new markets. Channels can function via push or pull strategies and use of hybrid channels to reach different customer segments. All channels must be integrated to work together effectively without interfering with each other. Value networks are similar to marketing channels in delivering value through interconnected organizations.