In 1975 Ford cut its advertising budget by 14% in an attempt to increase profits, while Chevrolet increased its spend. Chevy's market share rose by 2%; five years later, Ford had still not regained its market share.

In the 1989-91 recession, Jif peanut butter increased its adspend and saw sales rise by 70%. These brands also increased adspend and recorded exceptional sales growth: Bud Light (+15%), Coors Light (+16%), Pizza Hut (+61%), Taco Bell (+40%).

The De Beers "Shadows" campaign, which ran at a time of recession, is estimated to have increased sales by an annual average of 8% over three years. What's more, De Beers profits recovered by 21% in 1993 compared to the previous year.

Source: FT desk research