Thank you again 4runner. It will be interesting to see what improvements Symantec has made to the program. Hopefully computer resources will not be tied up so much as it is in previous versions.
Simple answer, Yes! 
If you open the Norton Protection Centre, and then click help&support in the top right hand corner. A window will open, and there will be an "Activation" button in a bar along the top of that window. Click it, and then enter your product key in the next window. You may have to sign into your Norton account after entering the key.