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When it comes to registering a new domain name, you are able to test-drive it for up to five days.
During these five days, if you are unhappy with the domain name, you are able to request a refund from your registrar and they will place the domain name back into the public registry, where it will once again be available for registration.
This means that you can register a domain name at absolutely no risk to you – test it out – and if you find that it will be a difficult one to sell or promote, you can get your money back quickly and easily.
Knowing this, it can certainly open up the potential of registering a handful of domain names, evaluating their marketability and weeding out the ones that are not feasible while saving money in the process, rather than squatting on a ton of domains that you just can't seem to move.
Domain tasting should not be confused with domain kiting, which is the process of deleting a domain name during the five-day grace period and immediately re-registering it for another five-day period.