Conceptualization (noun)

1. The act of forming or understanding a concept or idea.
2. A mental representation or understanding of a particular thing or idea.

Origin:

From concept + -ualization.

Examples:

1. His conceptualization of the project was innovative and ahead of its time.
2. The scientific community has undergone a major shift in its conceptualization of the nature of the universe.
3. The therapist helped her patient understand the underlying emotional struggles through conceptualization.
4. Her artistic conceptualization was inspired by the natural beauty of the countryside.
5. The company's conceptualization of a new product line was well received by investors.