What does a Title mean to your website? A Title is a short descriptive explanation of what your webpage is about. In a brief moment a search engine spider can crawl your site and read your title and content to see how relative your content is based on the user's search.
Page title's are a collection of keywords, categories and description all in one. The page title should be different on every page of your website, you will actually get penalized if your title is the same on every page, due to the fact that the search engine will think you have duplicate information and literally skip over the page. For Example if you are promoting 10 products on your site you should have a separate page for each product with its own title specific to the content.
As noted before you should use your keywords and or phrase in the title, and make sure you use some type of formatting. One of the most common would be something like this:
Keyword or phrase | category Website Title
Remember search engines rank pages individually so it is very important to make the title's unique. It's also important to note that when you or someone else is searching on Google, Yahoo or MSN, the title will be the first thing that they read, so its vital to be descriptive. This is the time you need to make an impression on the reader so that they will want to click on your link and visit your site. Without a title that encourages a clickthrough your site will be dead in the water and lot of time wasted.
If a user is interested in your title, they will tend to read the descriptive paragraph underneath called a Meta Description, and this is a meta tag or HTML tag that is embedded in the code, and is used for this purpose only, if your site does not have this tag included, they will usually grab the first few sentences from your main page of your site.
The description is basically a few sentences of descriptive information about your website, make sure it flows well and is easy to read, oh and by the way insert your keywords through the description. The description needs to be around 200 characters or less, you are not telling a story here, you are trying to get the reader curious so that they want to clickthrough to the site.
Hope some of these SEO Tips where enough to get you going in the right direction, keep up your research!