A parked domain is a domain that doesn't have any email or web hosting services attached to it yet. It is automatically applied by Netregistry to newly registered domain names. When you, or someone else, types your domain into their search bar, they will be shown a page that informs them that the domain is parked.
Customers with a parked domain who hold their Nameserver information with Netregistry can make up to 10 DNS Zone file management changes a year, at no charge. Within the DNS Zone management, you can make changes to all kinds of Zone records, including A-Records, CNAME Records, MX Records, among others.
Full information on management of these service is located in Zone Manager Overview article.
When first registering a domain, you will have access to a free, one page website service called Business Profile, as part of your Parked Domain service. Please read our support article on Business Profile to learn how to manage its configuration.