If you see a competitor is ranking highly for a keyword with good search volume you should

The correct approach is to evaluate the keyword's value for your business. While a competitor's high ranking and good search volume are indicators, the ultimate goal is to attract leads with buying intent. A keyword might drive traffic, but if that traffic isn't looking for what you offer, it won't generate qualified leads. Simply targeting it because a competitor does is a reactive strategy that doesn't guarantee ROI. Assuming a competitor is getting qualified leads is also speculative; their strategy might not align with your business goals or product offerings. Focus on keywords that indicate a clear intention to purchase your specific products or services.