Quiznos this week launched a new nationwide advertising campaign touting the toasted sandwich chain's lower prices, including 20 subs under $5.

The Denver-based chain recently lowered prices on 37 of its most popular sandwiches and entrees and redesigned its menu boards to emphasize the straightforward pricing.

"Consumers view Quiznos as a quality product and a 'step up' from many other quick service offerings, but we also know that many made the assumption that a better product meant a higher price," said Dave Deno, CEO of Quiznos, in a statement.