The problem is that your string is a constant: so when you try to alter it in any way, you will get an "Access violation" exception and your program will crash.
What you need to do is make a copy of it into an array, either manually:
char* inp = "Programming is EPIC!";
char string[100];
int i;
for (i= 0; i < 100; i++)
{
string[i] = inp[i];
if (string[i] == '\0') break;
}
*string = 'K';
Or automatically:
char string[] = "Programming is EPIC!";
*string = 'K';