Is it possible to create a formula if cell 'a1' contains 'word' the adjacent cell populates a value

[StaceyCr8tiveBranding]

Is it possible to create a formula if cell 'a1' contains 'word' the adjacent cell 'b1' populates a value

I have a sheet containing a drop down list which when each option is selected I want the adjacent cell to populate a price.

For example -

A1 = "T-Shirt"

B1 = would automatically populate the correct price "£9.00"

There are 25 items and prices in the list.

Thanks.

[#2]

@StaceyCr8tiveBranding 

=INDEX($G$3:$G$27,MATCH($A$1,$F$3:$F$27,0))

You can set up a reference list and apply this formula in cell B1.