My father drank Schlitz until the late 1970s.
My last memory of the old, independent Schlitz, was their sponsorship of The Who's 1982 (Farewell) Tour. By then, the flaking beer was driving consumers away. Never heard of nor seen Schlitz since then. This was a case study of how to destroy a corporate brand.
What Harvard MBA's and bean counters don't understand is that beer is an experiential product. Sometimes you have sacrifice maximized profit margin to keep market share and brand prominence. It's the experience of drinking a beer that differentiates it from its competitors. That's why micro-brews took some market share in the 1990s and 2000s.