• by Karl Greenberg , May 2, 2008

Quiznos is launching a $12 million campaign to promote a limited-time offer of $5 for one of its large sandwiches, called Deli Favorites.

For the month of May, all Quiznos large sandwiches will be on sale, including the Deli Favorites at $5, the Signature Classics at $7 and the Premium Steak sandwiches at $9.

The ad push by Cliff Freeman & Partners shows consumers literally eating $5 bills, which is meant to illustrate how Americans are looking desperately for a good value as the economic world collapses. One ad shows an Asian woman in a Laundromat eating a $5 bill that had been taped to the wall. The voiceover says: "If you are going to eat five dollars, shouldn't you get your money's worth?" The ads say the Quiznos sandwiches have more meat than similar $5 foot-longs at Subway.

"Cliff Freeman's team has effectively used humor to capture the dilemma that our consumers face," said CMO Steve Provost in a release. "While the price point is new, the deli favorites are classics that focus on the highest-quality ingredients, fantastic chef-inspired flavor profiles and larger-than-large portions."

The fast-casual dining company has about 5,200 restaurants plus airport kiosks, Internet ordering, and service at some colleges and big-box stores. The leader in the category is Subway, with over 28,000 stores.

To draw in consumers with a low-cost item, the company in 2007 launched the $2 Sammie, a flatbread sandwich, to vie against McDonald's wraps, and Subway's six-inch subs.

The privately held company did a reported $415,000 per store in profit last year. According to a May 2007 study by Chicago-based market research firm Mintel, Subway and Quiznos are eating pieces of the burger market.

The firm says the quick-service segment is dominated by burger franchises, which made up 67.6% of total sales in 2006. That was down 1% from the year before, due to increased share to the sandwich restaurants, which went from 9.2% to 10.3%. Chicken restaurants had 12.1%, and Mexican restaurants 10.7%. Mintel says Subway and Quiznos are the fastest-growing quick-service chains.