Companies use all kinds of advertising medium to promote their products and services - billboard ads, magazine and newspaper inserts, 15-30 second tv and radio spots, ads before movies, ads plastered along the side of buses or their own leased vehicles, billboard ads pulled through town by rented trucks, ads pulled behind planes when there is a big event below, booths at trade shows or major holiday events, etc. If you are driving along the road you may not even pay attention to a billboard ad. When that tv spot comes on you may flip the channel, go to the restroom or grab a drink from the fridge. I recall one assignment I was on where the division of a company was spending five figures monthly on Google Adwords campaigns and I really questioned whether that ad spend converted into incremental business to the company. Website development and SEO can cost five to six figures depending on the nature of the project. Yet the budget for a domain often ends up being $XX. But when these other mediums promote the business they often will refer to the company's website or social media name. If the name is not memorable, will the customer find it or just forget about it.
I had a company inquire about a .COM domain of mine twice. Initially they were using some weird extension I had never heard - not even a new TLD just some odd CCTLD where the keyword they wanted was available. Later they came back and offered high $XXX and I noticed they were operating on the equivalent .CO of my domain. Their site references the phrase of my domain as well as their app. They mention having done over $100 million in business. Yet they cannot fathom spending $XXXX for a domain. Such is the business world we still face even twenty years after the internet became mainstream.