jugaad is slang for 'work' or 'effort'. So while myjugaad.in might not be the best name for a slide show website it's a pretty nice name - esp for a site that showcases a person's projects/websites.
Yes, I agree with you. I just chose a domain name I already was owning for a different project. I agree that for serious things name should be recallable.
But the point you mentioned: market research
I would go around trying to find out what people in my surrounding are really craving for in the internet and then try to create that.
But paraschopra, the name matters too. The name should be 'remember-able' or 'recall-able'.