This report delves into the ethical considerations surrounding Nike's marketing practices, specifically focusing on the controversy surrounding the Nike x MMW balaclava. It analyzes the ethical dilemmas arising from the marketing strategy, including the potential for misrepresentation and negative impacts on brand image and stakeholders. The report examines the impact on customers, investors, and the community, comparing Nike's case to other brands like Puma and Fenty Beauty. Furthermore, it applies ethical theories, such as utilitarianism and deontology, to evaluate Nike's actions and provides recommendations for improving ethical decision-making in future marketing campaigns. The report emphasizes the importance of considering ethical dimensions and stakeholder sentiments when launching products or implementing strategies, to ensure the company's values and vision are upheld, and to prevent negative consequences.