Google Sheets multiple search and replace from a list

Question

I am looking for a solution to search for certain strings in a Google Sheet and, when found, replace them with another string from a list in another sheet.

For bette

Answer 1

This formula must be copied down:

=JOIN(" ";
ArrayFormula(
IFERROR(VLOOKUP(TRANSPOSE(SPLIT(A1;" "));List!A:B;2;0);TRANSPOSE(SPLIT(A1;" ")))))

The disadvantage is that it doesn't match punctuation, so word 'Lorem' will be found, but 'Lorem:' won't. But a good reason to use this formula is that you can fill more words in list 2, even paste 'Lorem:' so it could be matched too.