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Target Market News has introduced Black Business Chicago, a new monthly which will spotlight news and features on Chicago's African-American businesses, corporate executives and local economic issues. The publication will also be supplemented by a Web site, blackbusinesschicago.com, that will provide updated coverage of relevant business news on a daily and weekly basis between issues of the monthly print publication. Click for more ____________________________________

Buying Power report: Blacks spend as economy grows
New 16th edition shows $507 bil in spending



The finding comes from the 16th annual edition of "The Buying Power of Black America" report. In 2009, black households spent an estimated $507 billion in 27 product and services categories. ...

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NASCAR seeking more black fans again, but black ad agencies need not apply

(April 2, 2012) NASCAR has announced it is again renewing its efforts in diversity, this time from getting more drivers of color to attracting more African-Americans and Hispanics to become fans of the sport. Part of that initiative will include hiring an advertising agency to develop a number of new marketing initiatives.

The agency search was announced by Kim Brink, director of brand and consumer marketing for NASCAR. Brink, who was hired less than six months ago, previously spent 20 years at General Motors where she oversaw marketing for the Chevrolet and Cadillac brands. She is looking for an agency that will use an integrated approach to reach out to various consumer segments.

According to staffers of the NASCAR marketing department, there are currently no plans to hire an African American or Hispanic agency to help the racing organization achieve its ethnic outreach or marketing  goals. "In a perfect world," said a member of the marketing department, "we're looking for a full service agency to do it all."

In past years, NASCAR has had aggressive initiatives to attract and support more black drivers to the sport. Those efforts ended with only marginal success.

After enjoying a boom in popularity in the early 2000's, TV audiences and ratings for its races have declined in the past five years. In 2010, BET was carrying a reality show, "Changing Lanes," that was backed by NASCAR that highlighted the competition between 10 minority drivers to become drivers in major races. None of the drivers was able to achieve lasting success.

NASCAR, which is a privately company and does not release data on its marketing spend, has used general market ad agency, JUMP Co. since 2005 to handle its advertising.


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