Nations Bank has engaged in extensive marketing research to learn more about its customers - especially those in the 18 to 30 age group.The research identified that these consumers do not enjoy visiting a bank branch location and prefer to manage their banking via their smart phone,tablet or computer.The bank has invested in sophisticated applications which enable consumers to deposit checks,check their balances,pay bills,and transfer funds.Nations Bank believes this investment in research to understand consumer needs enables them to develop the right array of services which will lead to improved market success and overall performance.This is an example of a(n):

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This scenario is an example of the marketing concept, which involves a focus on understanding and meeting customer needs and wants in order to achieve organizational goals. Nations Bank conducted research to learn more about its customers' preferences and developed services that aligned with those preferences, in order to improve market success and overall performance.

Nations Bank Has Engaged in Extensive Marketing Research to Learn