On the next page, type "Product" in the Project name field.
In Project layout group, change selection to Create separate source and output folders.
In Location group, change selection to Create project at external location.
Click Browse... and choose the "Product" directory.
Click Next.
Ensure that the source and output folders are detected.
Warning: If the preference Window > Preferences > Java > Compiler > Build Path > Scrub output folder when cleaning projects is checked, clicking Finish will scrub the "bin" directory in the file system before generating the class files.
Note: This solution creates a ".project" file and a ".classpath" file in the "Product" directory. If you do not wish to have these files in the "Product" directory, you should use linked folders as shown in the Sibling products in a common source tree section.
Working with build paths
Creating a new Java project
Creating a Java project with source folders
Creating a new source folder
Using the Package Explorer