You can have up to 3 actions with policing:
Conform-action - for traffic that is within the configured bc value for the time period
Exceed-action - for traffic that exceeds the configured bc value, but is within the be value for the time period
Violate-action - for traffic beyond the configured be value
The action might be to mark conforming traffic with a favorable DSCP value and transmit, mark exceeding traffic with an unfavorable DSCP value and transmit, and drop violating traffic. In other cases you might want to simply transmit conforming traffic and drop all other traffic.