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Four iconic brands that reinvented themselves

KFC Original Colonel Sanders circa 1966

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KFC

Fried chicken may seem like a timeless classic, but through many internal studies, Yum Brands' KFC noticed that consumers' preferences had changed.

Older generations prefer chicken on the bone, but when it comes to millennials, half opted for chicken sandwiches, and 20 percent liked tenders and nuggets. Only 18 percent wanted drumsticks and other boned meat. Millennials also hated not having dipping sauces and were more likely to snack than just have three solid meals a day, a stark contrast to baby boomers.

"Clearly, if we want to win with younger people, we're going to have to evolve our menu over time," said Kevin Hochman, chief marketing officer at KFC. "It's no longer sufficient just to have the chicken."

Source: KFC