When Starbucks closed its domestic stores for one afternoon in February to conduct a companywide training session, Dunkin’ Donuts jumped at the chance to gain the attention and affections of coffee devotees: In the Chicago area alone, 450 Dunkin’ Donuts units passed out free small lattes during Starbucks’ closures.

Dunkin’ Donuts might have gained new customers through its promotion, and Starbucks might have won plaudits from loyal customers for its quality-control efforts. Looking beyond coffee-segment competition, however, these two promotions show very different marketing strategies in action. Seattle-based Starbucks played the quality card; Canton, Mass.-based Dunkin’ Donuts went for value and convenience.

Since February’s coffee stunts, more chains have favored the latter approach, creating value campaigns designed to get people talking ... and visiting. Louisville, Ky.-based KFC invited consumers to spot a “hidden image” in a television commercial for its 99-cent KFC Snacker, with winners (the first 1,000 correct answers each day) receiving a $1 coupon. Plano, Texas-based Bennigan’s Grill & Tavern rolled out the “Cash Crunch Lunch,” a post-tax-day promotion offering a lunch entrée and a beverage for $4.99. Even Starbucks distributed coupons—not a tactic it often employs—to promote its new Pike Place coffee.

Such value measures have a good chance at resonating more than ever with cash-strapped consumers. A recent survey by the Chicago-based researcher Mintel finds that more than half of consumers who dine out regularly are cutting back on restaurant spending. Companies that promote cost savings may be able to maintain their traffic counts and attract those customers who otherwise would prepare food at home.

It’s easier to weave value into a marketing campaign successfully when value is a core part of the brand. For example, television spots for Irvine, Calif.-based Taco Bell’s upgraded value menu ask “Why Pay More!” and show consumers digging for change in sofas and cars, demonstrating to the company’s target audience—young adult males—that they probably carry enough loose change for a meal.

“Our brand has been at the forefront of price-value innovation,” says Barry Westrum, senior director of brand marketing for Taco Bell. “This year was another opportunity to innovate.” The new commercials give consumers looking to save money a straightforward reason to try Taco Bell’s new menu, which includes three choices at each of three price points: 79, 89 and 99 cents.

The campaign got off to a successful start. BrandIndex, which tracks public perceptions of more than 1,000 consumer brands, found that Taco Bell’s buzz rating increased 41% after the May 19 launch of the Why Pay More menu. Ted Marzilli, senior vice president of BrandIndex (a product of British marketing agency YouGovPolimetrix), also notes that because the brand’s perceived value increased significantly—by 52%—consumers are absorbing Taco Bell’s value message. (For more on buzz ratings, see the sidebar, “Buzz Factor.”)

Westrum finds that the simple Why Pay More campaign resonates particularly well in this economy. “The message is very clear: You can get a lot for not a lot of money,” he says. “The beauty of this campaign is that it does a lot for our brand. It’s a branding campaign as much as it is a price campaign.”

Value promotions don’t always create the kind of brand interest that companies want to generate. They’re also not the only way that companies are reaching elusive budget-conscious diners.

“Even right now, under trying circumstances, we stay away from discounting,” says Don Fox, chief operating officer for Jacksonville, Fla.-based Firehouse Subs. “There are so many who have gone down that road, and there isn’t a single person ... that doesn’t wish they didn’t do that.”

Instead of competing in the $5-foot-long sandwich market with chains such as Milford, Conn.-based Subway, Firehouse Subs has kept its core menu items and maintained prices, choosing instead to focus on building brand awareness by leveraging community contacts and reaching out to fire stations in each of its markets. The company’s charitable foundation, which supplies fire stations with better equipment, received broadcast news coverage for raising $450,000 last year.

“If you compromise your brand for the sake of short-term gain in a difficult environment, you’re devaluing your product,” Fox says. “Your less-loyal customers will wait until they see the next offer. We want to avoid that.” So far, Fox is satisfied with the company’s performance in the tight market. “Our growth, in terms of interest, has not abated at all,” he says. “That’s a great leading indicator for us.”

Jamie Dunham, chief planning officer for Bohan Advertising and Marketing in Nashville, Tenn., has worked on marketing campaigns for chains such as Lebanon, Tenn.-based Cracker Barrel Old Country Store, and she currently works with Lexington, Ky.-based Fazoli’s. She emphasizes the importance of reaching out to consumers with messages that have everyday relevance.

“Every restaurant has to be able to project a message from the street,” she says. “People make their decisions when they’re driving down the street. What we can do to create excitement around the restaurant has become hugely important.”

That’s not to say that value is out of the equation. Dunham’s two-pronged marketing strategy for Fazoli’s incorporates outdoor and other out-of-store media promoting a $2.99 value meal and in-store materials touting higher-priced items to encourage customers to trade up. “There is always going to be a portion of your audience who will be willing to move up to a higher-priced item,” she says.

Product sampling also can be a crucial way to create buzz around a new menu item and determine whether it meets a previously unmet consumer need. “If you can get them interested, you may have generated a new customer at a reduced cost,” says Dunham.

And as is the case with studying traffic patterns or paying attention to competitors’ promotional events, timing matters.

“It’s a location thing,” explains Dunham. “If you’re sitting at your desk at 10 in the morning, you’re probably starting to think about what you’re going to have for lunch. A free product giveaway [announced via e-mail] creates a lot of buzz. When someone finds a free giveaway, they send it to everyone in the office.”

Contact writer at kate.leahy@reedbusiness.com