According to ITIL the definition the service is “means of delivering value to customers by facilitating the outcomes that the customer wants to achieve without specific ownership of cost and the risk”
Let us understand it with some references and instances.
The value for customer composes of THREE important elements. Outcomes-Preferences-Perceptions.
Outcomes are the results of carrying an activity or using a product or consuming a service.
After a tiring and hectic working day I am hungry but not feeling like going out. The Pizza, Burger or any food of my choice delivered at my door step that fulfills my hunger is what I consider as the OUTCOME
The food is delivered as per my expectations such as the crust, toppings, cheese, hot, tasty, timely and affordable then I would consider that it is meeting my preferences.
However, I may compare all the features crust, toppings, cheese, hot, tasty etc with my previous experiences and might feel good, bad or ugly about the current experience of food. This is called perception.