Let's say I created a software that automates the creation of Joomla CMS templates (this is just an example, I'm not into that). I manage to buy the domain name joomlatemplate.com. Great. But what about the software name? I cannot name it just "Joomla Template" cause it's too generic and I won't be able to trademark it in the future, right? But from the SEO perspective it would be best to keep the phrase "Joomla Template" in the product name. Do you see any reason why I shouldn't name my product "Joomla Template Generator" (if "Joomla Template Builder" is already taken)? I can't think of anything better than that.
If you want any trademark rights at all, then you cannot use a generic name for your product. Product names are often described using five categories: generic, descriptive, suggestive, arbitrary, and fanciful (see wikipedia: http://en.wikipedia.org/wiki/Trademark_distinctiveness). You are best off with a mark that is suggestive, arbitrary, or fanciful.
As a practical matter, using a generic name, such as Joomla Template Builder, is a really bad idea as no one will be able to find you with a search engine among the sea of sites relating to those terms.
Using a name like Kung Fu Template Generator will give you a distinctive name but also help with SEO with having key search terms in the name.