Please utilizing the BuildRowSetFromString()[BuildRowSetFromString()][1] AmpScript function.
Here's a quick example:
%%[ SET @productValues = BuildRowsetFromString("product 1 || product 2 || product 4 || product 7","||") For @i = 1 to RowCount(@productValues) DO SET @Row = Field(Row(@productValues, @i),1) outputline(concat("<br>Product:", @Row)) Next @i ]%%
Output:
Product:product 1 Product: product 2 Product: product 4 Product: product 7
[1]: http://help.exacttarget.com/en/documentation/exacttarget/content/ampscript/ampscript_syntax_guide/content_ampscript_functions/#BuildRowSetFromString