Quote - I just added everything to the applications folder and that is where the runtime folder that came with the install exists.

There is always a Runtime folder in the Applications / Poser 8 folder, even if you chose to locate your main content library somewhere else. This Runtime contains Poser program files and must not be changed.
If this really is your main content folder, you will be able to see the product in your library. If you can't see it, hover over one of the folders in the Library and it will tell you the actual folder location.

Quote - Should I reinstall and pull the runtime folder to somewhere else?

There is no need to re-install if you don't want to. You can just link to another Library in Poser.

"If I were a shadow, I know I wouldn't like to be half of what I should be."
Mr Otsuka, the old black tomcat in Kafka on the Shore (Haruki Murakami)