When determining what kind of logo to use, you need to consider the needs of your business as well as the benefits of each logo type.
A Standard Logo is a typographical and/or iconic design. Icons are simple shapes and images that portray a concept or abstract idea. Typographical fonts can be used to personalize text and are typically used by large corporations. Deluxe logos are more detailed and sometimes intricate drawings designed with a specific image or theme in mind, such as a mascot.
Think about your business and its focus and goals to help you decide what kind of logo will work best for you.
For examples of Standard and Deluxe logo designs, as well as ideas for what makes a great logo, see You and Your Logo.