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- How New Coke Went From Market-Changer to Company's Humbling Biggest BlunderStill smarting from the "Pepsi Challenge" taste-test battle and facing declining market share, Coca-Cola launched "Project Kansas," a top-secret mission to reformulate Coke. Marcio Moreira, now vice chairman at McCann Worldgroup, reflects on his experience in the stealth project to launch New Coke.