Something preferred is something you like to do or want to do more than something else: preferred things are valued above the rest.
Preferred things are more desirable than other things. If you like watching football more than basketball, you could say football is your preferred sport. You probably have a TV show that's preferred over almost any other show. When something is preferred, you prefer it — you like and value it over other things. In business, sometimes people get mad when one worker is preferred over others: that means they're being treated with favoritism, which is unfair.