What is the difference between a Project & a Product? (or) a Project testing & a Product testing?

A project is normally a client specific. i.e we develop a project depending upon the requirements of the client, when we completely meet the client requirements, then the project is said to be completed. So testing of such thing is called a project testing.

Where as a product means company specific, which later can be modified every time when a new client buys the product. The product is modified every time when a new client comes and says his requirements. The very common things like managing payroll systems, e-commerce , buying/selling etc will be managed in a product. Testing of such a product is called product testing.