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Marketo has a few program types for specific uses. Default is just a normal program with no special behaviors. Event is a dated program, and can be integrated with Launchpoint event Adapters. Email Blast programs are for one time Email Sends or AB tests. Selecting one of these in the Applies to field makes the channel available for that program type.
Can you add any additional types? We have various online advertising channels that doesn't really fit into any of the current ones provded my Marketo, thanks!
The program types exist to accomodate specialized behaviors, so the Program type is a result of features provided and is not a customizable option. Events have a time frame, Events with Webinars allow for integration with webinar provider adapters, Email Blast Programs allow specialized email sending behaviors from the program. It's likely that your programs would be best suited to either Default types, or Event Types if they require a specified time frame, and then constructing a channel with program statuses for your specific needs.