Domain pointing takes domain parking another step further by allowing multiple domains which resolve to different index pages or directories on the same hosting account. Domain pointing would come into play if one wanted to maintain TWO distinctly different web sites while paying and maintaining only one hosting account (aka a "twofer" deal).
Example:
www.apples.com -> http://apples.com/index.html
www.oranges.com -> http://apples.com/oranges/index.html
With domain pointing the addition domain name(s) point to a subdirectory on the account, however this is invisible to visitors (www.apples.com/oranges is recognized and treated as the root directory of www.oranges.com in the same way as www.apples.com/oranges is recognized and handled as oranges.apples.com if you were to make it a subdomain).
