Marketing lists - One email to Contacts per Account

Hi,

We are using CRM 2011 and we had the following requirement from one of our departments.

They want to use the marketing list, quick campaign and email template functionality to send emails out to clients but what they want is the system to send one email to all contacts per Account

So if in the marketing list we had three contacts which were associated with one Account they we would want the email to concatenate their names i.e.‘Dear X,Y and Z’ and send one email out where in the ‘To’ field will have the email addresses for these three contacts.  

Is this possible to develop?