You never did attach your file (Go Advanced> Manage Attachments) so hard to give a "simple formula" I think that both Oeldere's and my solution were simple formulas (depending on how your data is set up).
However, here is a VBA solution placed in sheet module.
Private Sub Worksheet_Change(ByVal Target As Range)
Dim Quarter As String
If Intersect(Target, Range("B3")) Is Nothing Then Exit Sub
Quarter = Target.Value
Select Case Quarter
Case "1st Qt."
Target.Offset(5, 0).Value = "2nd Qt."
Case "2nd Qt."
Target.Offset(5, 0).Value = "3rd Qt."
Case "3rd Qt."
Target.Offset(5, 0).Value = "4th Qt."
Case "4th Qt."
Target.Offset(5, 0).Value = "5th Qt."
Case "5th Qt."
Target.Offset(5, 0).Value = "6th Qt."
Case Else
Target.Offset(5, 0).Value = ""
End Select
End Sub
Is that what you are looking for?
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