well it depends on what you configure on your service policy.
If, for instance, you apply on it a cumulatice policer after a certain threshold is passed, you will be potentially affecting all the flows, even the ones which consume limited bandwidth.
If on the contrary you classify based on vlan tags (if your platform allows that) or base on flows, in principle a phisical level policy can have the same effect of multiplan vlan policies. But again it all depends on what you actually configure.
regards,
Riccardo