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Default dynamic named range

Dear all,

Hope you can help me with the following.

I need to create a range (Dynamic range).
As all of you are awa Insert-Name-Define...
However, the name of my range needs to be dependent on the entry of a
certain cell.

For instance: If I type in B1 "Mercedes", then I want the name of my named
range to be "Mercedes".
If later on I need to change this for any reason to "BMW", then I need the
name of my named range to change as well to "BMW"..

Hope you guys can help me out with this.

I am using Excel 2003
 
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