Question

how should Disney reinvent its product offering to meet customer changing taste and preferences

Answer 1

The old characters of Mickey Mouse while did strike a chord with the millenials, there is a certain trend shift in terms of the characters that children seem to like. Characters like Pokemon, ShinChan etc. are being liked more by children. While there is no specific reason as to why this has haappened, it can be contributed to the generational shift. Children seem to like Pokemon etc due to something inherent in the character.

Disney can reinvent its product offering. This should be done not by creating Me-Too products like Mickey Mouse etc. but by creating products which cater to children accross geographies. It can take a cue from Kung Fu Panda. It can copyright its own product offerings and first of all do a very detailed research on characters which children would be open to like. This can be done at Micro Level accross geographies. This would give an impetus to Disney and give a truly global reach. It can hire freelancers and try and get ideas from them. It can launch global contests to create characters. Thus this would give it a wide range of ideas on how to conceptualize characters and create an iconic character like the legendary Mickey Mouse. While it is a fact that Mickey Mouse has still not lost its sheen, it is to be noted that it is not so much watched as is Pokemon, Shinchan etc.

Thus Disney could go demo shows, episodes with each unique characters. It can then test which character or show was more liked upon. It can create characters which related to children's lives more. It can create characters which children would accept as a part of their lives and one which they would be endeared to have them with them. This would make children watch the character over and over again and thus would help in popularity.