Some ad campaigns rose above the bad times in 2008

— -- Much has happened over the past 12 months.

There was a heated presidential campaign. Gas prices hit more than $4 per gallon. Michael Phelps ruled the pool during the Beijing Summer Olympics. And Britney Spears made an unexpected comeback.

Yet, all those things pale in comparison with the biggest, most devastating event of 2008: the collapse of the national economy. As financial markets crumbled, terms such as "bailout," "credit crunch," "subprime mortgage securities" and even "credit default swaps" became commonplace. In December, what we all felt was made official: The U.S. had been in a recession for a year.

With the sour economy came a new tone in marketing and advertising messages. Financial ads became more somber. Packaged-goods makers took swipes at competitors as they desperately tried to retain market share. And, in almost every industry, companies unleashed campaigns that touted more-for-your-money value.

For those employed in the media and advertising fields, the news got gloomier as the year progressed. There were client defections, massive layoffs and slashed bonus checks.

Ad spending forecasters continually downgraded their predictions. Well-known prognosticator Robert Coen's final word was that 2008 ad spending would fall 3.2% to $270.8 billion. Next year will be worse, he says, with a 4.5% drop to $258.7 billion.

But even the toughest of economic times can't thwart creativity — or even ill-fated attempts at creativity. Marketers even rose to the challenge during the Great Depression.

"More than one advertising executive has publicly acknowledged his debt to the Depression, admitting that it was not until the pressure of necessity exerted itself that he really found out how to get 100 cents' worth of value from the expenditure of every advertising dollar," read an editorial from trade magazine Advertising Age on Oct. 29, 1932. An example: In 1930, Scott Paper promoted the high quality of its toilet paper, saying it was better than competing brands, which its research had found were "chemically impure." By the first 10 months of 1930, Scott's overall sales were up 14% vs. the same time period in 1929, says Bradley Johnson, Advertising Age director of data analytics.

Even in the depths of the Depression, Scott persuaded consumers to spend more on the "ultimate disposable product," Johnson says.

In 1933, Scott took another bold approach with ads that touted paper towels as a kitchen necessity. While consumers were watching their cash, Scott was able to sell "convenience," Johnson says.

The Depression "was a horrific time, yet consumers still consumed, advertisers still advertised and commerce went on," Johnson says. "That's a pretty positive message for looking at 2009. Things will be rough, but there will be opportunities."