The dot product of vectors $\mathbf{a}$ and $\mathbf{b}$ is defined as: $$\mathbf{a} \cdot \mathbf{b} =\sum_{i=1}^{n}a_{i}b_{i}=a_{1}b_{1}+a_{2}b_{2}+\cdots +a_{n}b_{n}$$
What about the quantity? $$\mathbf{a} \star \mathbf{b} = \prod_{i=1}^{n} (a_{i} + b_{i}) = (a_{1} +b_{1})\,(a_{2}+b_{2})\cdots \,(a_{n}+b_{n})$$
Does it have a name?
"Dot sum" seems largely inappropriate. Come to think of it, I find it interesting that the dot product is named as such, given that it is, after all, a "sum of products" (although I am aware that properties of $\mathbf{a} \cdot{} \mathbf{b}$, in particular distributivity, make it a meaningful name).
$\mathbf{a} \star \mathbf{b}$ is commutative and has the following property:
$\mathbf{a} \star (\mathbf{b} + \mathbf{c}) = \mathbf{b} \star (\mathbf{a} + \mathbf{c}) = \mathbf{c} \star (\mathbf{a} + \mathbf{b})$
One of the important properties of the dot product is that they characterize orthogonal vectors.
On the other hand, your product vanishes whenever two vectors have at least one coordinates that add up to zero. In my experience, that is a very loose, basically "useless" property.