New rule: We have added a new rule "Lookup and replace value".
This rule is used to replace the complete value of a field, for another value of your choice. It will only replace the value if it's an exact match. For example if the lookup value is "Red" and replacement value is "Brick" then the output will be "Brick" only for the products that have the exact input value "Red". It will not change products that have values like this "Dark Red", even if they contain "Red".
For more information on how to use this rule you can read this support article about it.