I just watched Dragon's Den (Episode 4, Series 9, 39 minutes in, http://www.bbc.co.uk/programmes/b013ytch) and It was a shame to see the lady from Rico's Mexican Kitchen loosing out on investment due to a weak brand identity. Everything else about her pitch and product range was spot on but unfortunately the brand wasn't strong enough especially with the projections in mind.
It did however serve as a prime example of how important and thus how much a well designed brand identity/logo is worth to any business.
First impressions are everything and even if your product/business is amazing you may find customers consciously and subconsciously bypassing you in favour of a better looking design and product/business.