I always use a car as a great example to compare or explain to clients what branding actually is. It's like a car, almost in every single detail.
The steering wheel is your strategy, the body is your business card and the brand is your logo or image.
To some people, a car just has to bring them from A to B and they don't really care what brand it is or how it looks. That's perfectly fine of course. Other people, however, see a car as a reflection of how they see themselves. They want a fancy car, because they want people to think about them as a fancy person. Or they want a sportscar so that people think they're fast and on top of their game. Sometimes, it's just plain bragging of course.
But the most expensive car is not always the best for you. If your branding feels and shows 'Porsche', you will get the kind of people that would buy a Porsche. But maybe, that's not the kind of people you like to work with. If you're IKEA, you don't want to look like Porsche because everybody will think your stuff is expensive. Maybe your crowd is more of an Audi crowd, or Volkswagen fits your personality better.
I'm not saying that a cheap look should also be a bad look, though. It should just be more subtle and accessible. HEMA's branding is also a great example of that.
So here's something interesting to consider: what car are you? What car is your business? Do they match?