In a brief question-and-answer session after his speech, Lugar suggested that his sagging poll numbers have to do with a lack of name recognition among voters.
Lugar trailed primary leaders with five precent in a recent USA Today survey.
Still, Lugar said that he has an outside shot at the Republican nomination, particularly if the campaign of current front-runner Sen. Robert J. Dole (R-Kan.) falters.
"To the extent that Bob Dole started with universal name recognition he is seen as a safe, secure choice for most Republicans," he said.
"I'm trying to show that I have ideas for America's-place in the world and its economy that are superior to his."
Lugar said that his election committee has been working hard to increase his standing in the national polls.
Specifically, he said that he will spend $600,000 on his campaign for the New Hampshire primary