Now let’s take a closer look at the concept of value.
In ITIL, value is defined as the perceived benefits, usefulness, and importance of something.
Value is subjective and depends on the needs and expectations of the person who receives the service.
What one customer considers valuable may not be valuable to another customer.
Value is often realised when a service helps customers achieve their desired outcomes.
It is important to understand that organisations do not create value on their own.
Instead, value is co-created through collaboration between service providers, customers, and other stakeholders.
Each party involved in a service relationship contributes to value creation.
This means that service providers and customers must work together to achieve successful outcomes.
Understanding value and value co-creation is fundamental to understanding IT service management.
2. How this applies to TakeCars (car-rental marketplace)
This segment explains one of the most misunderstood ideas in marketplaces: value is not objective, fixed, or platform-defined.
a) Value is perceived, not declared
For TakeCars:
- A family with kids values:
- Child seats
- Space
- Predictability
- A solo traveller values:
- Price
- Speed
- Simplicity
- A business traveller values:
- Pickup reliability
- Cleanliness
- Invoice clarity
Same car.
Same supplier.
Different value.
This explains why “one perfect listing” never works.
b) Value is only realised at use time
TakeCars does not create value when:
- Booking is confirmed
- Payment is taken
- Supplier accepts
Value is realised when:
- Car is handed over as expected
- Trip happens without stress
- Return is smooth
- Deposit is refunded without drama
Everything before that is potential value only.
c) Value co-creation exposes shared responsibility
Value breakdown happens when:
- Supplier underperforms
- Customer misuses the car
- Platform fails to intervene early
ITIL logic says:
No single party “delivers” value alone.
For TakeCars, this means:
- Supplier quality controls are value controls
- Support responsiveness is value creation
- Clear rules are value enablers, not bureaucracy
3. Key ideas to read right before the exam (high-yield)
This topic appears constantly in ITIL Foundation questions.
Core definition (memorise)
Value is the perceived benefits, usefulness, and importance of something.
Keywords examiners look for:
- Perceived
- Subjective
- Depends on the customer
If an option suggests value is:
- Fixed
- Provider-defined
- Guaranteed
→ it is wrong.
Value co-creation (exam trap)
Correct understanding:
- Organisations enable value
- Customers realise value
- Value is co-created
Wrong logic (often in distractors):
- “The provider delivers value”
- “The service guarantees value”
Fast elimination rule during the exam
Eliminate answers that:
- Ignore the customer perspective
- Treat value as universal
- Suggest value exists without use
Choose answers that:
- Mention collaboration
- Refer to outcomes
- Emphasise perception
One-line exam anchor
No service has value until someone uses it successfully.
Keep this sentence in your head during the exam.
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