Craftsman has been the most trusted brand in America for decades. As stated in numerous posts already, the company has been selling out on that trust by going to cheaper, poorer quality tools for years. Having a few gimmicks and polished tools to try to keep a shine on the reputation really isn't fooling anyone. Going to Evolv junk and putting the Craftsman name on it, in the interest of a few short term sales by fooling the customer, has gutted what little reputation is left.
If you want that trademark to be worth something; remove the Craftsman name from the junk, just put Evolv on it, nothing else. Then, make the Craftsman stuff in the US, and keep the quality at mid-level, SK or so, like it was in the 60's. Keep the price where it needs to be to make money, and invest to compete for the long haul. There's 10 or 20 home mechanics or homeowners who will buy the cost effective tool over the truck brands or industrial tools, because the price vs quality tradeoff is more appropriate for their use. Don't stoop to trying to compete with Harbor Freight, they are positioned to out-compete you on the low end junk. To survive, you will need a quality reputation to sell the Craftsman tools through Ace and other stores (think Home Depot and Lowes) after Sears and K-Mart go out of business for good. Make a core, hardline tool selection, and keep with it. Use gimmicks and novelty tools for seasonal sales and such as volume builders, but the brand reputation depends on the solid dependability of the hardline.
I personally quit purchasing Craftsman tools in 2000. I had a set of zirconium nitride bits given to me as a gift. I do machine work, so have a good set of values of what bits should do. I have great sets in my shop; the Craftsman ZN bits were superfluous so I threw them in my carpentry tools. I tried to cut some mild steel with the 1/8" ZN bit, at an appropriate speed, with a cordless drill. It rounded off and melted instantly. Obviously was defective. I took the set in to Sears and told them that they were defective. They refused to even look at them; said they were expendables and not warrantied. I argued that they were 100% defective, not worn out. No result. The salesman did tell me that I could bring in every other Craftsman tool I owned and they would replace it with new, no questions asked, defective or not, as they were unconditionally guaranteed. I did exactly that; I brought in every tool that showed damage or was worn out, and exchanged for new. Then I put them all on ebay, and replaced them with Snap-on, Proto, SK, and Matco. I have very few Craftsman today, I think the only ones are some old, offset double box. I had one of those bend recently, took it in and they replaced it with a junk one that wasn't safe to use because of the quality. The salesman argued with me, told me he would warranty it, but I should be ashamed because I had to have had a cheater bar on it to have bent it. I told him no, I had my foot on it, taking off an exhaust bolt, and that the proto I had used to finish the job hadn't bent. The shiny, new one went to ebay too.
Here's the gist of a long winded rant:
Make quality tools, for a good price, and stand behind them. That's the secret to success. Anything else is just fluff.