Which of the following best describes 'Utility' in service management?

Utility in service management specifically refers to the functionality or features of a service that enable it to meet customer needs. It encompasses what the service does and how it contributes to delivering value to the customer. The essence of utility is to focus on providing capabilities that are aligned with customer requirements.

In the context of ITIL, utility is about ensuring that the service delivers the necessary functionality and meets the demands of the stakeholders using it. The statement about utility captures the idea that it is not merely about delivering a service but ensuring that the service meets the functional criteria needed to fulfill customer expectations. Therefore, this answer reflects the correct understanding of utility within service management.