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LITlib - Excel Power Functions Pack
Add-in for Excel that adds additional cell functions to Excel.

litLIB Help - Decode function
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String - Decode

=Decode(Text , Search , Replace [, Search, Replace] ... [, Default] )

Decodes the Text parameter into a Replacement value. If the Text parameter matches the Search parameter the Replace parameter is returned as a result. If no match if found an empty string is returned if no Default values is given.

Text : string to search
Search : string to search
Replace : string to replace if Text = Search
Search2: string to search
Replace2: string to replace if Text=Search2
Default: default value when no matches could be found

Return March if the input text is mar:
=ReplaceAll(A1 , "mar" , "March")

Return apple if Text=1 and banana if Text=2:
=ReplaceAll(A1 , 1 , "apple", 2, "banana" )

Return correct if value is not 1, 2 or 3 and incorrect otherwise
=ReplaceAll(A1 , 1 , "correct", 2, "correct", 3, "correct", "incorrect")