SWOT analysis

This is the most commonly used analysis tool looking at a businesses -
Strengths Weaknesses Opportunities Threats

It is used for describing particular factors/ features which could influence your product: it describes both the macro & micro markets.

Internal product/service feature categories	Strengths of the business/design	Weaknesses compared to the norm of the industry
External pressures of the current market	Opportunities for the business in the marketplace	Threats to the success of this

It is easier to list the product characteristics or current market trends and then see where they fit into this matrix.