Metaword required
Solution 1:
Could this be a simple as term?
We need a new term to describe a word that succinctly sums things up?
Solution 2:
My suggestion is nom d'etre. I formed that as a combination of the following:
nom de pen — pen name
raison d'etre — reason for being
The idea is that it's a name for being or name for existence. Your sentence would be:
This new development is crying out for a nom d'etre.
For Hofstadter fans, this has the bonus of being self-referential. The phrase "nom d'etre" is its own nom d'etre.