Calculated Field to return a text value

I'm trying to create a calculated field that will hit on keywords in folder names and return a value based on the keyword found. Obviously the folder name is contained in the "Name" field on my sharepoint site but how do I write a formula that
will look for a specific word or phrase and return an assigned text value?
Example: Name field contains a list of folders (see the name list below). I want the formula to search for "AAA" and return value "XYZ", I want to search for "BBB" and return value "ABC",and I want to search
for "CCC" and return a null field.
Name
Folder AAA Z
Folder BBB Z
Folder CCC Z
So we're all clear what I'm up against; right now I have a total of 45 folders (soon to be more) that I want to cut down to 5 or 6 after grouping by the returned value generated by the calculated field. I have zero experience and I'm not a formula or a code
guy. I've spent quite a few hours so far but I'm getting nowhere.

Hi DKeller33
I'm gladyou were able to get it working with content types but if the calculated column
allows less hands-on maintenance I am guessing you'd probably prefer to use
that solution. So I'd like to take one more stab at it if you will bear with me
For your case, I created a new document library so I could test out the calculation.
By default there were a number of columns created.
One of them was the "Name" column which is also a hyperlink ( I beleive this is the column you are trying to use for the calculation)
There is also by default a column named "Title"
I used the "Title" column for my example because it is the same text as the folder's "Name" Column
I created a calculated field called "Calculated Group" and
added the calculation
=IF(ISNUMBER(FIND("AAA",Title)),"XYZ",IF(ISNUMBER(FIND("BBB",Title)),"ABC",IF(ISNUMBER(FIND("CCC",Title)),"","Next nested if")))
The calculated column then returned the appropriate grouping as a string so you can group or filter by it.Please let me know if you get it to work or let me know that I'm just spinning my wheels and I will stop trying.
Have a Great New Year! I hope SharePoint brings you good tidings!
Alex

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Message was edited by:
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at Microsoft.SharePoint.Library.SPRequestInternalClass.AddOrUpdateItem(String bstrUrl, String bstrListName, Boolean bAdd, Boolean bSystemUpdate, Boolean bPreserveItemVersion, Boolean bUpdateNoVersion, Int32& plID, String& pbstrGuid, Guid pbstrNewDocId,
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mic

Check if there is any change in web.config of these servers
http://support.microsoft.com/kb/2880758
To work around this issue, limit the length of the personal message in the invitation to 256 characters or less.
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http://social.msdn.microsoft.com/Forums/en-US/7bb16e51-e7cc-439e-a8b3-755683ccac1a/max-length-on-custom-field-types
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Hi All,
What could be the solution, if i want to have the formula on same display field.
say..your entering value in grams and convert into ml in the same field of (:Q_RES.DISPLAY5)
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Thanks a lot...

What could be the solution, if i want to have the formula on same display field.
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