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Possible ways to select domain name are as follows
$ Keyword rich domain name
$ Your name
$ Your company name
$ Your product band name
$ Products generic name
$ Hybrid name (mix of above)

Keyword Rich Domain Name

Benefits Of Keyword Rich Domain Name
Keyword rich domain name will probably help in achieving higher ranking in search engines than other forms of domain name.
Keyword rich domain name may attract visitors after achieving higher ranking on search engines as domain name reflect their typed keywords.
Limitations Of Keyword Rich Domain Name
Keyword rich domain name may narrow the scope of your website as a result your website seem to customers as a small one.
Search pattern of visitors may change and therefore, the keyword they type can change too.
Keyword rich domain name may not be available due to attractive keywords may already be taken.

Your Name As Domain Name

Benefits Of Your Name As Domain Name
You can create awareness among customers that you are trading on the website. This is particularly useful for professionals recognized because of their personal skills and experience.
Limitations Of Your Name As Domain Name
Your domain name may not be available if your name is too popular.
No SEO benefits
May not motivate new customer to click on link placed on various websites and search results.

Your Company Name As Domain Name

Benefits Of Your Company Name As Domain Name
If you are an owner or manager of well-known company, then it would be the better option to create awareness of your business among online customers.
Domain name is likely to be available if it is not generic.
Help existing and potential customers to search for your products using your company name.
Limitations Of Your Company Name As Domain Name
Company name as domain name may not help gaining SEO benefits.
In case of newly, established company customers may not have various of your business. Therefore, domain name will not help finding your website online.

Your Product Brand Name As Domain Name

Benefits Of Your Product Brand Name As Domain Name
If your product band is popular amongst customers, then it will finding product related information such as pricing and promotional offers over the internet.
Product band name is likely to be available as each vendor usually have unique brand name different from its competitors.
Product band name as domain name may give an appearance of single product small business and may not communicate customer about future likely products.
Limitations Of Your Product Brand Name As Domain Name
Product brand name may not help find customers your products over the internet unless your product is already popular among the customers. Customer may search using product generic name such as cell phones, computers rather than Nokia, HP respectively.
Separate SEO effort would be required for each product band name set as domain name such as glow.com.pk. It is the website URL of Telenor glow package.

Product Generic Name As Domain Name

Benefits Of Product Generic Name As Domain Name
Product Generic Name may be used as keyword in search queries generated by the customers.
Limitations Of Product Generic Name As Domain Name
Product Generic Name may not be available as it is already taken by competitors.
If you are selling multiple products than it may not communicate all the products offered by your business.
It may result in loss of cross-selling benefits
Separate domain name may need to be purchased and maintained for each product. It will lead to additional administrative cost.

Hybrid Name As Domain Name

Benefit Of Hybrid Name As Domain Name
Hybrid Domain names are combination of above domain names. Commonly used Hybrid domain names are your name and business name combination. These kind of domain name are usually adopted in case where required domain name is not available.
Limitations Of Hybrid Name As Domain Name
It may not allow obtaining the benefits of either domain names.

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