Business Notes MARKETING

Coca-Cola has always been the world's most popular soda. But in 1985 its Atlanta-based makers decided to replace it with New Coke, a sweeter concoction designed to challenge perennial opponent Pepsi. New Coke became the marketing fiasco of the decade. Within three months, soft-drink sippers loyal to the old formula forced its return; it reappeared as Coca-Cola Classic. Since then New Coke's market share has shriveled. Last week, in an effort to resuscitate the comatose cola, the company announced plans to test market New Coke under a new name: Coke II.

The campaign is the most blatant attempt yet to take on the Real Thing's / rival. "Coke II will be directed at Pepsi drinkers," Coca-Cola spokesman Randy Donaldson admits. "It will offer them two things: real cola taste plus the sweetness of Pepsi." Coke II's packaging will even carry the red, white and blue colors familiar to Pepsi fanciers. Should Coke II succeed, market observers speculate that Coca-Cola Classic would be free to revert to its original name: Coca-Cola.