Remember Bazooka bubble gum and baseball cards? Where have they gone? That's what Pembridge Capital Management wants to know.
Pembridge has helped organize a proxy fight at Topps, the baseball cards and bubble gum company. Pembridge and another hedge fund have formed the Topps Full Value Committee to propose their own slate of directors. According to its letter to shareholders, gum sales for Topps have dropped 60% over a twenty-one year period. In 1985, gum sales hit $26.2 MM. In 2006, they were at $10 MM. Even a Topps managing director admitted that the company had "almost missed an entire generation" by failing actively to market the Bazooka brand. "Bazooka disappeared from the airwaves and virtually all other forms of communication for over a decade." Apparently, Bazooka can't be sold to big box warehouse stores like Costco because their retail prices for bubble gum were lower than Topps' manufacturing costs.
Pembridge is pushing for asset sales as well as seats on the board.
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1. Posted by Cathy on July 13, 2006 @ 10:43 | Permalink
Topps stopped putting the gum in baseball card packs within this period. While doing so was done with the intention of improving the baseball cards business (less likely to ruin cards with gum gook) there is a whole generation of kids who missed out on that particular flavor of sweet cardboard and therefore has no reason to crave it.
Of course, it's also possible that there's less demand for non-sugarless gum these days overall.
2. Posted by Bazooka Joe on July 13, 2006 @ 14:14 | Permalink
It seems to me that the real problem with Bazooka (beyond high production costs) is that it is lousy gum. It goes stale too easily and acquires a grainy texture and it looses its flavor (which is fine, but not delicious, and needs more fruitiness) too quickly. Topps is just selling a bad product.
As for advertising, if I were running Topps, I'd push the baseball-card bazooka synergies: (1) I would make it clear that the gum in Topps baseball card packs was Bazooka (I never knew that, but in retrospect, they suffered from the same defects) and (2) I would try to sign a whole bunch of major league baseball players or teams or MLB itself to endorse Bazooka (the official gum of MLB or the Chicago White Sox, etc.) and have Bazooka gum night at ballparks (perhaps bad for keeping the parks clean).
3. Posted by Bill on July 13, 2006 @ 15:21 | Permalink
I am skeptical of the theory that removing the gum from the baseball card packs caused people to lose interest in this gum. I also didn't know the gum in the packs was Bazooka, but as Bazooka Joe said, the gum was terrible. I generally tossed the gum in the trash after opening a pack of cards. I recall opening a whole box of Topps cards once with a friend (probably 1983 Topps) -- and tossing a whole lot of gum in the trash at the end.
4. Posted by KipEsquire on July 14, 2006 @ 7:50 | Permalink
Not every product fails because of poor marketing. Some fail because they just plain suck. (Pardon my language.)
The idea that "we can sell anything to anyone if we just have the right ad campaign" is ignorant Galbrathian tripe.
5. Posted by Fred Tung on July 14, 2006 @ 18:45 | Permalink
I guess that's right. The gum in the baseball cards was never very good. But the Bazooka gum sold separately wasn't too bad, as I recall. It was certainly a strong brand. They seemed not to be able to keep up with the times, however. I can't remember ever seeing sugarless Bazooka, although I think I recall seeing fruit flavors?
6. Posted by Bazooka Bob on July 24, 2006 @ 18:02 | Permalink
Does the 1985 sales figure include the cards as 'gum sales'? Generally, people who were buying baseball cards weren't buying them for the gum. I know I wasn't.
As for Bazooka gum itself, it's great when it's fresh. New packaging and comics were introduced June 6. If you would like to see the old comics and relive your youth, check out this site:
Bubble Gum Comics.
7. Posted by Fred Tung on July 25, 2006 @ 8:25 | Permalink
Thanks for the link, B-Bob. I don't know what was included in the '85 sales figures, but I'd guess they would treat the baseball cards separately. Now that I'm onto Bazooka again and the proxy fight, I'll have to try the new gum and see if the insurgents have a good case.
8. Posted by bazooka bob on September 30, 2006 @ 19:40 | Permalink
BAZOOKA HAS SUCESSFULLY ATTEMTED TO DESTROY THE IMAGE,APPLE PIE,AMERICAN FLAG ,AND BAZOOKA{RED,WHITE,AND BLUE.THEY HAVE A PRODUCT LOOKING LIKE TAFFY FROM THE JERSEY SHORE,GUM THAT STICKS TO THE WRAPPER,ILLEDGIBLE COMICS, AND THE ULTIMATE INSULT TO THE AMERICAN WORKER---MOVED THE PRODUCTION TO MEXICO--FIRING THE AMERICAN WORKER.OH,THE GUM TURNS YOUR MOUTH BLUE.WE HAVE RETRO;D THE MUSTANG,RETURNED CLASSIC COKE--MAKE THE NEW IF YOU MUST--DO NOT DISCONINUE THE OLD, AND,THE NEW COMMERCIALS WITH THE RAP BOYZ AND THEIR PELVIC THRUSTING IS NOT THE WAY TO GO.I WILL HAVE A BLOGGER PAGE SHORTLY TO REPATIATE BAZOOKA JOE BACK TO THE GOOD OLE US OF A . WATCH FOR A MAGAZINE ARTICLE IN THE DMIA NAT;L MAGAZINE, AND GOOD MORNING AMERICA HAS BEEN RUMORED TO HAVE AN INTEREST.ALL RESPONSES CAN BE DIEECTED TO CRAIG L, IN NY CORPORATE.THE CAMEL IS A HORSE BUILT BY COMMITTEE.I;M SURE THE SHOFIN BROTHERS ARE NOT PLEASED AS ARE THE FAMILIES OF THE FIRED WORKERS. ----EVENTUALLY ,BAZOOKA BOB
9. Posted by Robert Forest on April 21, 2008 @ 15:00 | Permalink
I wish they'd bring back the old gum. Can you imagine how much their sales would climb? The new gum is terrible.
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