Final answer:
Customer classification is the process of identifying consumers with similar attributes who are likely to exhibit a similar buying behavior in order to tailor marketing strategies.
Step-by-step explanation:
Customer classification has been defined as the process of identifying consumers with similar attributes who are likely to exhibit a similar buying behavior. This classification helps businesses understand their target market and tailor their marketing strategies accordingly. For example, a company might categorize its customers based on demographics such as age, gender, income, or psychographics such as interests and lifestyles. By identifying customer segments, businesses can develop personalized marketing campaigns that are more likely to resonate with their target audience.