Felix
I hope I have understood. (My testing had your Product ID (lookup value) in A1 and the Sampling Point Table in A4:C50 on the same sheet. (Just change these to suit))
I came up with this, which tests first if the Product ID exists at all using the AND function and ISERROR, if that returns TRUE I return a blank cell, if it doesn't (e.g. one or other finds a match), it determines which one and returns the Identity.
Let me know if it works for you, here is the formula
=IF(AND(ISERROR(VLOOKUP($A$1,$A$4:$A$50,1,FALSE)),ISERROR(VLOOKUP($A$1,$B$4:$B$50,1,FALSE))),"",IF(ISERROR(VLOOKUP($A$1,$A$4:$A$50,1,FALSE)),VLOOKUP($A$1,$B$4:$C$50,2,FALSE),VLOOKUP($A$1,$A$4:$C$50,3,FALSE)))
Regards
Nick Hodge
Microsoft MVP, Excel
Southampton, UK