They're replacing the @ with +, which really ties the whole service together quite nicely (while integrating +1's as well).
Your example would use +ProductFoo, for example. If you are writing a G+ post, if you type +, it will prompt for suggestions, much like Facebook does with @.
I'm surprised it's not highlighted by Google, but they do mention it, buried in the help (which is very nicely laid out, if not hidden).
http://www.google.com/support/profiles/bin/static.py?page=gu...
The same way +1 could develop in to "+1 ProductFoo". Just give it some time.
reddit, HN, and StackOverflow have only scratched the surface of can be done with upvoting. I would very much like to see Google add a prominent "+ Average", like HN's comment score average. As we've seen here on HN, focusing on total upvotes (i.e. the now hidden Leaderboard) seems to encourage quantity of comments, while displaying one's average may encourage quality. Facebook and Twitter are clearly optimized for quantity; the best hope for Google+, hopelessly behind in terms of sheer content, may be to push users to generate/share more interesting content, rather than more.
[0] http://googleblog.blogspot.com/2008/11/searchwiki-make-searc...
Edit: I did see mentioned on G+ that they would eventually build in support for organisations, so presumably you would add them to one of your circles if you wanted to receive updates.
Why not? It's not like the namespace +{whatever} is likely to be in use at google already.
Better yet, Google is much more used as a verb than any other site I can think of. "Just Google +ProductFoo", etc.