This research investigates how corporate reputation communications, specifically, those that focus on corporate ability (CA) versus corporate social responsibility (CSR), impact consumer evaluations of flagship products and non‐flagship products. Across five studies utilizing different research methods (survey, eye‐tracking, and experiments), we demonstrate an asymmetric effect of corporate reputation communication on product evaluations, dependent on the product's flagship status in its company's product portfolio (i.e., all products owned and marketed by a company). Specifically, while CSR is more conducive to consumer evaluations of flagship products, CA is more beneficial for evaluations of non‐flagship products. Such effects are more prominent when consumers lack detailed product attribute information. Given the strategic importance of flagship products to a company, this work adds to the emerging body of research on CSR communication by highlighting its advantage in bolstering consumer evaluations of flagship products.