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In this video tutorial, the importance of having a meaningful domain name for a website address is highlighted. Unlike using an IP address, which may look unusual, a domain name is a meaningful textual name that is easy to remember and represents the brand. Examples of popular domain names like YouTube and Learning Journal are given to illustrate this concept. The use of Azure cloud for hosting the website is also mentioned. Having a meaningful domain name is essential for a website as it helps in brand representation and easy recall by users.