Using concepts from classical density functional theory (DFT) we investigate the freezing of a two-dimensional (2D) system of ultra-soft particles in a one-dimensional (1D) external potential; a phenomenon often called laser-induced freezing (LIF). In the first part of the paper, we present numerical results from free minimization of a mean-field density functional for a system of particles interacting via the GEM-4 potential. We show that the system does indeed display a LIF transition, although the interaction potential is markedly different from the cases studied before. We also show that one may consider the (suitably defined) effective density within the potential wells,ρ eff , as a control parameter of LIF, rather than the amplitude of the external potential as in the common LIF scenario. In the second part, we suggest a new theoretical description of the onset of LIF which bases on the pressure balance equation relating the pressure tensor and the external potential. Evaluating this equation for the modulated liquid phase at effective densityρ eff and combining it with the (known) stability threshold of the corresponding bulk fluid, we can predict the critical effective density or, equivalently, the potential amplitude related to the onset of LIF. Our approach yields very good results for the model at hand, and it is transferable, in principle, to other model systems.