Given a sheet like so:
Sheet 1 Product Name ----------------- Fancy Shoes Plain Shoes Comfy Slippers Nice Loafers Pressed Shirt Tee Shirt Collared Button-Up
The below is an array formula (entered with Ctrl+Shift+Enter):
=INDEX(Sheet2!$B$1:$B$5,MATCH(1,MATCH(Sheet2!$A$1:$A$5,Sheet1!A1,0),0))
You can use "Formulas" > "Evaluate Formula" on the cell containing the formula to see how it's working step by step.