If your table is called Product, then you should not have a field/column called Product. I think this maybe your Product code.
It is best not to have spaces within and Access object names. So, assuming your Product table has fields/columns
ProductCode and Magazine, then you could use a query
Code:
SELECT ProductCode, Magazine from Product
Where ProductCode In("V","C","Y")
This will show which records would be updated.
If this gives you the data you expect, then you could do an Update query
Code:
UPDATE Product
SET Magazine = "Vac."
Where ProductCode In("V","C","Y")