According to Al Ries and Laura Ries, however, you should let the brand drown and possibly launch a new brand and product.
If the tide is against you, the best strategy is to let your brand drown and launch a new brand to take advantage of the next wave. Smith-Corona should have launched a personal computer with a different brand name.Smith-Corona was once a powerful brand in the typewriting business. The advent of personal computers and word processors made typewriters - and the Smith-Corona brand - obsolete. Trying to launch a Smith-Corona line of personal computers would have been pointless.