Well the same applies for Germany. I also studied Product/Industrial Design where we were strongly focussing on 3D design which also includes modeling, rendering, sketching and research and concepts. So the field of study starts with a general "problem" and process and solution of solving this problem. I also sometimes call it innovator studies. For quite a while now this field of study also implies interface design. As others already mentioned the product designer is focussing on the whole product from the beginning to end. Therefor a product designer can also be called a product owner. I still find it quite confusing though because I still think of a product designer as someone who deals with 3D products and not virtual ones, but as the borders between that fade I can understand the description in this context.