Can I define a formatted constant text?

When I was using LaTeX, I found it convenient to define a collection of product names wo which I would refer in my book, and then to insert them by name, thus ensuring that the product name would be italicized and always with correct spelling, etc. Is there a way to do that in RStudio? I have not been able to discover it.
An example LaTeX entry:
\newcommand{\OCP}{\textit{Open/Closed Principle}\xspace}
The usage is then like this:
In designing a class, you must keep in mind the \OCP so that your class will not become troublesome in future.

In the output, you will see:
In designing a class, you must keep in mind the Open/Closed Principle so that your class will not become troublesome in future.

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