That’s pretty much the idea, but a couple of things to clarify. If your product tags were as you say: topic, core-offer, productA
Then, if you have selected the order tracking option, the tags created on AC would initially be: topic, core-offer, productA (pending)
As the order status changes the final tag is removed and replaced by a tag with the new status. So, when payment is made the ‘productA (pending)’ tag would be removed and a ‘productA (processing)’ tag added. When you complete the order the ‘productA (processing)’ tag would be removed and a ‘productA’ tag would be added with no suffix.
That is the typical pattern for an order, and then you can have the exceptions i.e. suffix can be (failed), (on-hold) or (cancelled).