Which term refers to the use of a word to mean something closely related, often in a figurative way?

The term that refers to the use of a word to mean something closely related, often in a figurative way, is metonymy. This figure of speech involves substituting the name of an attribute or feature for the name of the thing itself. For example, saying "the White House issued a statement" uses "the White House" to represent the U.S. government, capturing a relationship based on contextual association.

In contrast, other terms like simile involve direct comparisons between two different things using "like" or "as," and synecdoche involves using a part to represent the whole or the whole to represent a part, rather than referring to a related concept. Hyperbole, on the other hand, uses exaggerated statements to convey strong feelings or impressions rather than a close relationship between terms. Thus, metonymy is distinct in its focus on a figurative connection rather than a literal or exaggerated one.