How to automatically send an email when a drop down list update

Hello,
I have looked into most of the other problems people have regarding excel, and can't seem to find a solution to my particular problem. So hope someone can help me with this.

What I have is basically a pipeline of potential jobs, one of the columns we have is "status" and it's a drop down list. What I would like to know is if I change the status to "won" I would like to automatically send an email with an attachment (which is just a form asking the recipient to complete). And also if I change the status to "lost" I would like to send a different email with a different attachment. Both "won" and "lost" are on the same status drop down list.
I would like to be able to send the emails as it is being updated or in a batch when the file is closed whichever way is simpler, only one person will be updating the pipeline at a time.

Is there a straightforward way to do this?

Also the recipient's email address is currently not in the pipeline, should I just add another column and provide email address or can I get it to pull address from an email contact list?

Thanks in advance