DUBLIN, Ohio – Wendy's has created a new two-tier value menu that will replace the burger chain's My 99¢Everyday Value Menu, according to BurgerBusiness.com.

The company and its franchisees agreed on several core items that will comprise the new Right Price Right Size Value Menu. Items that will be priced at 99 cents each include: Jr. Cheeseburger, Crispy Chicken Sandwich; 4 piece Nuggets, Value-size Natural Cut Fries; Value-size Soft Drink; and small Frosty. The second-tier of value items have prices that range from $1.29 to $1.79, according to BurgerBusiness.com.

Speaking to analysts during the Wedbush Securities California Dreamin’ Consumer Management Access Conference on Dec. 12, Steve Hare, senior vice president and CFO of Wendy's, said the company would like to have 15 percent of sales to be in the value segment.

“I will say that one of the areas where we’ve been inconsistent, and I think one of the reasons for the slight decline in traffic this year, is we’ve been more effective on the premium side than on the value side,” he said. “So, one of the programs we have for 2013, that I think is very promising based on tests, is what we call ‘Right Price, Right Size,’ where we work with the franchisees, try to come up with our core menu items, 99¢ priced items that everybody sticks with; but then also gravitates to higher prices up to, say, $2, that helps let people also consistently present what we think is good value, either for signature items that you can’t get other places — like a Wendy's chili or baked potato — but also some products that are protein-oriented.”