Auto-populate cell based on values in other cells

I would set up a table with your products in column A of a different sheet in your workbook and prices for Option 1 in B and Op 2 in C. Then I would use the INDEX and MATCh functions to find the proper values. As per your example, the formula in column D copied down would be

=INDEX(Sheet2!$B$2:$C$11,MATCH(A2,Products,0),MATCH(B2,Sheet2!$B$1:$C$1,0))

where "Products" is a named range referrring to sheet2!A2:A20. Take a look at the attachment and let us know if you have any questions.

ChemistB