For me the difference between Technology and Product is the motivation for writing them:
Technology is written because it is interesting, cool, solves a problem in an innovative way and pushes our understanding of computer science further. The output of Industrial and Commercial R&D teams is technology. Some of this technology will turn into massively successful commercial software but this is often done as an afterthought or as a reaction to a highly successful piece of research.
Product is written to be sold. A potential set of buyers are identified and software is written with the sole purpose of selling to that target market. The output of commercial software teams is product which is ready to be purchased by a user. Some products will fail and some will be successful but as a commercial organization there is little or no intrinsic value in the software itself, the value is in the product.