The country‐of‐origin effect is a topic central to the field of international marketing. Country of origin has been found to exert a particularly potent effect on consumer evaluation in situations where there is a strong link between a country and a particular product category. The present study provides further insight into how this particular effect can be understood. Drawing on a novel conceptualization of how country image and product categories interact, this study tested the relative evaluative relevance of product category with respect to estimates of brand equity across a variety of product categories. The findings suggest that facets of a country's image that are more closely related to the evaluation situation exert a greater influence on the evaluation of brands. This result encourages scholars as well as practitioners to re‐evaluate which situations might cause the country of origin effect to hold managerial relevance and paves the way for new paths toward a more comprehensive understanding of the effect. Copyright © 2015 John Wiley & Sons, Ltd.