how to bind data to label in asp.net mvc3

I have three model Classes(code first)

ProductGroup(p)->product(c)(list of produGroups comes in drop down list while creating a new product),

Now my requirement is,

Product(p)->PreferedLocation(c), when I select preferedLocation(Create action) link ,I have to fill the details for the particular product.Means first I need to display single product name in Label like Product:Mango

In controller

    public ActionResult  PreferedLocation()
    {
        ViewBag.ProductID = new  SelectList(db.Products,"ProductID","Name");
       //ViewBag.CountryID = new SelectList(db.Countries, "CountryID", "Name");
        return View();

    }

    //
    // POST: /PreferedLocation/Create

    [HttpPost]
    public ActionResult PreferedLocation(PreferredLocation preferredlocation)
    {
        if (ModelState.IsValid)
        {
            db.PreferredLocations.Add(preferredlocation);
            db.SaveChanges();
            return RedirectToAction("Index");
        }
        // ViewBag.ProductID = new SelectList(db.Products, "ProductID", "Name", preferredlocation.ProductID);

        return View(preferredlocation);
    }

In View:

    <div class="editor-field">
        <%: Html.EditorFor(model => model.Name) %>

        <%: Html.ValidationMessageFor(model => model.Name) %>
    </div>

    <div class="editor-label">
        <%: Html.LabelFor(model => model.StreetAdress) %>
    </div>
    <div class="editor-field">
        <%: Html.EditorFor(model => model.StreetAdress) %>
        <%: Html.ValidationMessageFor(model => model.StreetAdress) %>
    </div>

    <div class="editor-label">
        <%: Html.LabelFor(model => model.Description) %>
    </div>
    <div class="editor-field">
        <%: Html.EditorFor(model => model.Description) %>
        <%: Html.ValidationMessageFor(model => model.Description) %>
    </div>

    <div class="editor-label">
        <%: Html.LabelFor(model => model.Latitude) %>
    </div>
    <div class="editor-field">
        <%: Html.EditorFor(model => model.Latitude) %>
        <%: Html.ValidationMessageFor(model => model.Latitude) %>
    </div>

            <div class="display-label">product</div>
<div class="display-field">
    <%: Html.LabelFor(model=>Model.Product.Name) %>
    <%: Html.ValidationMessageFor(model => model.ProductID) %>
</div>

Here I tried Code for idsplaying product name in label but instead of product name I got output as

product

Product Name.

What modifications I have to do.