Marketing Channel and Horizontal,Vertical Marketing

EXPLAIN THE MARKETING CHANNEL? AND WHAT IS THE DIFFERENCE BETWEEN THE VERTICAL AND HORIZONTAL MARKETING SYSTEM?

A traditional marketing channel is made up of independent channel members like producer, wholesaler(s) and retailer(s). No channel member in traditional marketing channel has any control over any other member. Each is a separate and independent entity. In Vertical marketing system, however the producer, wholesaler(s) and retailer(s)

Act as a unified whole. One powerful channel member owns the others or franchises them or exert so much power that everybody else cooperates. In horizontal marketing system two or more unrelated companies join together resources to make use of an external opportunity. E.g. a bank and a supermarket chain may join together to offer in-store banking.