Need to Find All Cells Containing "Word" and Replace With "Other Word" from Cell Below?

Hi Guys,

My excel skills are extremely limited so I'm hopeful this is a relatively straightforward formula needed.

I've got a series of large spreadsheets. What I want to be able to do with a particular column is to find all instances of a particular word, let's say "example" and in every cell where that is found it replace this with the word in the cell directly below that (it can only be one of 3 words)

So

example
red
example
blue
example
green
blue
green
green


Would become

red
red
blue
blue
green
green
blue
green
green

The word that I'm searching for is scattered through thousands of entries and appears in no pattern so it's got to be able to search for all uses of it and when it finds it just replace with the contents of the cell directly below it


Hope this makes sense, and I'd really appreciate any help with this!

Thanks!

Thanks so much for that guys, really appreciate it

2nd method seems to be doing the trick, just applying it now!