1. Who is the audience for the advertisement? How can you tell? What assumptions do the advertisers make about the audience?
Targeted at males because there is a model who is a man and he's holding the product. They assume they want to smell good/fresh so I point out the caption, "become one of the freshest smelling places on earth."
2. Is this a populist advertisement? How can you tell? What traditions or standards does it rely upon to be understood in these terms? 
I would say elitist because the product is Old Spice, has a "manly" vibe to it and that is what men want to smell like. I assume men don't want to smell like fruits and roses. So it's for the male group or people who would like to smell "manly." There's a man holding the product for the ad, we understand its body wash for men. They are trying to make a point that you'll smell good because the man resembles a cool mountain.
3. What is your prior knowledge of the product? Of the advertisement? How does this help you understand the ad's meaning? 
It's body wash, the body wash will make you smell "manly"and fresh. Targeted at men who take pride in smelling fresh and so clean.The ad makes it clear it's for men (there's a man, sorry for repeating phrases but these questions are sort of like that as well)
4. In what ways is the ad designed to manipulate you into buying the product? What emotions does it play upon? What desires does it commodify?
The guy appears to look like a cool, breezy mountain, therefore he must smell like it. People don't expect to look like a mountain, i hope not, but they expect to smell great. People want to smell good, so they buy products that will. The desire to smell spicy, fresh, and cool. The desire to smell good that it'll attract others.
5. What unstated messages does the ad convey? What themes does it employ? What does the ad tell us about American culture?
The body wash will not make little people trying to do winter activities over your body that resembles a mountain. The theme it employs is being clean and smelling good. The ad tells us we need an attractive model who's in good shape to hold the product so we can have more buyers because perhaps they want to look, smell, be like that model. We use attractive people to advertise because we think it can attractive more consumers.