Why would I want a domain name?
Any business that wants to do business on the Internet needs a domain name. A domain name identifies your business and reinforces its branding, much as your company name and slogan do. Your domain name further functions as an easy way for your customers (and potential customers) to find your company's web site. 

Domain names are such an important part of doing business online.

What is a domain name? (www. YourDomainName .com) It is a component of your internet address that is assigned to you that allows someone to locate you on the world wide web. It is your permanent address that can follow you no matter where in the world you might move. This is a very powerful tool for individuals as well as businesses. It allows for email addresses such as (you @ your-name .com), web site addresses (such as this site) personal and business.

What does it mean to register a domain name? When you register a domain name it is assigned/licensed to you and associated with a (DNS) computer on the internet that you designate during the effective period of registration.