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Channel Management includes more or less the entire life cycle of the movement of product from the Principal to the end user via distributors & Retailers. Channel management includes the Product choice, pricing, margins, negotiations, decision on POS material and it's distribution.
Physical distribution is more of a logistical chore, where in based on how the channel is decided to be managed, physical products are moved from Principal's warehouse to the retailer and finally to the end user.
