What is the term for the literal or dictionary meaning of a word or phrase?

The term that describes the literal or dictionary meaning of a word or phrase is denotative meaning. This refers to the specific, objective meaning that is generally agreed upon and found in a dictionary, without any additional emotional or cultural associations that the word might carry. Denotative meaning is essential for clear communication, as it establishes a common understanding of words between speakers and listeners.

While other concepts like connotative meaning pertain to the emotions or associations tied to a word, denotative meaning strictly focuses on its straightforward definition. The use of "literal meaning" can sometimes create confusion, as it may imply a straightforward interpretation which could encompass both denotative and connotative aspects in casual usage. Thus, denotative meaning is the most precise term for the objective meaning of words.