Parked domains allow you to "point" or "park" additional domain names to your existing hosting account. For

Example say you own yourdomain.com and yourdomain.net but don’t want to buy 2 hosting packages for the same site. You would go to the “Park Domain” link inside your Cpanel account an add yourdomain.net. Now when ever somebody enters yourdomain.net it will show them yourdomain.com site.