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Service value is created through the interaction of service providers and service consumers.

Value is realised when services help consumers achieve their desired outcomes.

The perception of value may differ between different stakeholders.

Costs are the amount of money spent on a service, while risks are potential events that could cause harm or loss.

Services help customers achieve outcomes by reducing the need to manage specific costs and risks.

Service providers and service consumers share responsibility for managing risks.

Value is co-created throughout the service relationship, not at a single point in time.

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2. How This Applies to TakeCars (Car Rental Marketplace)

This video deepens the value, cost, and risk concept, which is central to both ITIL theory and TakeCars’ business reality.

a) Value is realised only when the trip succeeds

For TakeCars:

• Value is not created at booking
• Value is realised when the customer completes the trip successfully

A booking that ends in:

• Cancellation
• Breakdown
• Dispute

Has destroyed or reduced value, even if revenue was collected.

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b) Different stakeholders perceive value differently

In TakeCars:

• Guest values convenience, safety, predictability
• Host values utilisation, income, low hassle
• TakeCars values successful transactions and trust

These perceptions often conflict.
ITIL explicitly recognises this, which is why “value is subjective” appears repeatedly in the exam.

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c) Costs and risks shifted away from the customer

Examples of costs and risks removed by TakeCars:

• Vehicle ownership costs
• Maintenance planning
• Insurance negotiation
• Depreciation risk

What remains with the customer:

• Usage-related risk
• Compliance with rules
• Care of the vehicle

This shared responsibility is exam-relevant.

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d) Shared risk responsibility in a marketplace

ITIL is clear:

• Providers do not absorb all risk
• Consumers do not absorb all risk

For TakeCars:

• Platform manages platform risk
• Hosts manage vehicle condition risk
• Guests manage usage risk

When this balance is unclear, disputes arise.

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3. Key Things to Read / Remember Right Before the Exam

Value, cost, and risk (very high probability)

• Value is realised through outcomes
• Value is subjective
• Services reduce the need to manage costs and risks
• Risk responsibility is shared

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Exam trap to avoid

• “The service provider removes all risk” → Incorrect
• “Value is delivered at the point of sale” → Incorrect

Look for wording that includes:

• Outcomes
• Shared responsibility
• Co-creation

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One-line memory hook

Value emerges over time through outcomes, with costs and risks shared between provider and consumer.

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You have now completed video 8.5, which closes the core service relationship and value block.

Next good options: