Crit

(look for elements and traits that repeatedly appear)
Clean, sharp edges along with mostly neutral color establish a foundation for a few contrasting colored elements. Textures are smooth and slick — absent any rough or soft textures -- with the exception of the sort textures and modeling of the woman's face.

(look for alignments, structures or groupings that organize parts into larger entities (gestalt))
The tilted photo and lipstick tube and cap all "group" nicely. The right-side elements are all stacked into a single alligned column — so the entire composition fits into two simple groups — a purely visual grouping, on the left, and the text on the right. Ample white space isolates both groups.

The ad is graphically slick and elegant — broad, clean, untextured areas with crisp edges and sharp, contrasting highlights.

However, the challenge here is to set this ad apart from the thousands of other perfume and luxury item promotions — many of which use that basic formula of clean, high-contrast, often-neutral imagery.
Here Catherine Deneuve chooses to play against type — she makes fun of the seriousness and slick always-perfect quality of luxury product ads. She also makes fun of her own reputation (she was very successful French actress, as well as being a something of a supermodel in the era before supermodels.) She is known for looking perfectly elegant any time she's in front of a camera.
Here, instead, she places a silly, playful daub of lipstick on her own nose — making a clown-like face. That is the unexpected and, hopefully effective tactic for getting the viewer to stop and ponder the ad a bit longer — when things don't fit what we expect to see, we have to slow down to figure out what's going on.

(look for contrast of any and every kind. Look especially for similar forms that are varied in some way. Look for anomalies — patterns or norms that are broken.)

Bold value contrast adds to the power of the model's face.

Scarce (chromatic) color adds power to the product image, the perfume bottle.
The two key areas drive the humor of the piece -- the lipstick tube, and the red dot of lipstick on the nose. High chroma red in an virtually neutral (black and white) composition, draws attention directly to those features.

The model's face:
Human faces, or faces generally, draw our attention. We are drawn particularly to faces that look directly at us, as we aim to read the person -- their intent, their character, their emotional state. An overt kind of human connection is established.
The model's face is a large area of white in the middle of a large, broad, boldly contrasting black field -- thus, graphically, it is quite dramatic.
Location: the model's face is near the 1/3 axis on the left, thus the golden mean's rule-of-thirds contributes to emphasis.
Directional cue: the lipstick tube effectively points at the face.
Heightened Chroma/Color; Color Anomally: the red dot is the only bright red, and one of the few chromatic colored areas in the entire composition.
Conceptual Anomally: a red dot on a fashion model's nose is odd -- that kind of odd or unusual that draws your attention.
Her face is full of detail and soft textures, in contrast to the flat black surrounding her.

The Lipstick Tube:
3D Anomally: this is one of only two 3d objects in the composition.
Rich color and contrast.
Acts as one of the plausible lead-ins to the composition.

The Perfume Bottle (and Signature) in lower right:
3D Anomally
Full color in predominantly neutral layout.
The stack or column of script above the bottle leads down to the bottle
Generally isolated by white space.

The Type/Heading "Deneuve by Catherine":
Bold, broad black shapes surrounded by white (isolation and pronounced value contrast)
Directional force of the main black photo... both edges of the photo "point to" the heading.

The areas with distinct, rich and anomalous color tend to command attention most — the red areas. Scarce (chromatic) color adds power to critical areas. The two key red areas drive the humor of the piece -- the lipstick tube, and the red dot of lipstick on the nose. High chroma red in an virtually neutral (black and white) composition, draws attention directly to those features.

Other areas of emphasis are also due to distinctive color — the product image, the golden perfume bottle.

The script draws attention to key promo text.

Broad areas of white preserve the power of the few focal elements.

To a lessor extent, the broad, stark black behind the model's face help enhance the forms, textures and shadows of her face.