While working on a thing here, I got thinking about Fender and the basic problem that they face: They are a company who is anchored to the past and so struggles to find ways to increase market share. To meet that challenge, they make far too many variants of established designs and, on occasion, try to make something new - an effort that usually fails (sorry kids, I don't see the "dimension" bass having any more legs than the "heavy metal strat"). They are not a car company and so cannot just change the sheet metal to get someone to "trade in"; The technology of a bass or guitar is only so flexible.
Me, were I running Fender?
Well, aside from nixing all of the crazy / more or less meaningless variants of their core products, I think I'd offer some real options. Make the deluxe J bass a set-neck bass with really good aftermarket electronics. Offer some real top-woods, not that insultingly silly "photo flame" finish they did for a while. Improve their neck mounting scheme on their bolt-ons, ala Lakand or Sadowsky - - LEARN from their competition, not ignore them.
I'd also take the base model instruments and, rather than offer a zillion signature/tribute models, just offer more colors, every year. How hard would that be?