Is it really worth spending money for brand name items?

Look at a phone for example. The ordinary smartphone would give you the ability to call, send texts, wifi and picture taking with flash. However a notable brand such as Samsung or Apple would give you those features plus more. The question that I am asking is if the plus more features are really worth the time and money, because in my experience with having a top notch phone (S5) I find myself not using half of the features that come along with this phone; although I find the waterproof feature of the phone is very important. I am not just directing this question about phones, I am directing the question about everything in general, like a car for example. An old model car that is in good condition would drive you from A to Z with comforts such as A/C, power windows steering excetera. A new model Cadillac however would do the same thing plus more, but is the plus more really important?