Error while installing Windows Service

Question

I am creating a test Window's service and not able to see the service in the ServiceManager.

Steps performed...

1. Select Windows Service project - Default Name is WindowsService1
2. Added some code in OnStart and OnStop menthods
3. Right click on Sevice1.cs ( Designer and say Add installer), which adds a new file called ProjectInstaller.cs and its designer
4. Build the service and I can see the Service1 in left hand pane(Toolbox)
5. Go to Visual Studio Command Prompt, executes following command installutil "path of the exe" and press enter. This launches a small login windows, I entered my credentials and press OK

Issue: I am not able to see the service in the ServiceManager

Logs:

C:\Program Files\Microsoft Visual Studio 8\SDK\v2.0>installutil.exe C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.exe
Microsoft (R) .NET Framework Installation utility Version 2.0.50727.3053 Copyright (c) Microsoft Corporation. All rights reserved.

Running a transacted installation.

Beginning the Install phase of the installation.
See the contents of the log file for the C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.exe assembly's progress.
The file is located at C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.InstallLog.
Installing assembly 'C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.exe'.
Affected parameters are: logtoconsole =
assemblypath = C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.exe
logfile = C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.InstallLog
Installing service Service1...
Creating EventLog source Service1 in log Application...

The Rollback phase of the installation is beginning.
See the contents of the log file for the C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.exe assembly's progress.
The file is located at C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.InstallLog.
Rolling back assembly 'C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.exe'.
Affected parameters are:
logtoconsole =
assemblypath = C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1.exe
logfile = C:\Study\WindowsService1\WindowsService1\bin\Debug\WindowsService1. InstallLog Restoring event log to previous state for source Service1.

The Rollback phase completed successfully.

The transacted install has completed. The installation failed, and the rollback has been performed.

Any idea as what I am missing here ???

Thanks in advance...