Case Study Vormitia Hotel Group $($VHG$)$ You have just started a new role as a junior management accountant at the Vormitia Hotel Group $($VHG$).$ The Vormitia Hotel Group plans to start rolling out new hotels in mid$-2024.$ Its vision and mission statement focuses on providing exceptional cutting$-$edge service based on achieving $100\%$ customer satisfaction and meeting expectations of all guests without fail. VHG plans to generate $90\%$ of its profit from its rooms, restaurants, and smaller in$-$house cafes. VHGs closest competitors dominate the functions and events segment of the market, which VHG now plans to enter. A typical function, such as a wedding reception, includes providing: a venue, a three$-$course meal, entertainment during the wedding, including a band of four musicians and overnight accommodation for the wedding party. The General Manager of VHG is eager to provide a competitive wedding package which will undercut rivals and his words shake up the market. This is in addition to the standard bookings policy offered for rooms and restaurants. You will participate in a cross functional planning team, which includes managers from all key business units. The role of the new team will be to assist in formulating an appropriate corporate strategy, which will be in alignment with the competitive environment and VHGs own internal core competencies. The rivals of VHG have notably different wedding marketing strategies in place. For example, the Grand Regent Hotel $($GRH$),$ which occupies a heritage Victorian era building in the heart of the Sydney CBD$,$ offers a traditional format wedding with complementary instrumental accompaniment from its historic organ. GRH has a minimum wedding package price of $$50,000$ for $100$ guests and one nights accommodation for a bridal group of $10$ people. GRH has received national awards for its high standard of heritage refurbishment including high standards of bedrooms, bathroom facilities, and its food. Another competitor is the Hotel Z Group $($Z$),$ which offers a wedding package for $100$ guests at a total cost of $$2,000,$ but no overnight accommodation is provided. This is treated as a separate and additional charge. The Z hotel group is in a suburban location positioned at the entry of a national park. It is difficult to find the Z Hotel, but It is located in a picturesque and tranquil location, famous for its natural beauty. There also five other mid$-$range hotels which are considered competitors of VHG$.$ These other hotels charge between $$30$ to $$55$ for each guest attending a wedding at their respective hotels.

Required:

a$)$ Identify two $(2)$ models which the planning team could use to analyse the external environment and explain how the team could use the models in formulating a wedding package strategy for VHG$.$

$($b$)$ Explain how an understanding of different generic competitive strategies which could help the team develop a successful wedding package for VHG$.$