Hello,

I have worked on a number of rebranding projects for large companies, and can tell you color is very important.

Color gives the subconscious context to what your brand is about. For instance, most Eco brands tend to use Green as a base. This is also why McDonald's spent millions recently in changing all the designs of the Mcdonald's in store and branding from red to green. Blue typically denotes many business to business companies. Look at IBM, AT&T as examples. Depending on what your business is, will also determine how much the color scheme will define who you are to the market.