True or False: A competitor with low audience overlap should be ignored.

False. While a competitor with low audience overlap may not directly compete for your current customers, ignoring them is a missed opportunity. They could be a valuable partner for cross-promotional activities, allowing you to reach new audiences. Alternatively, their strategies or product developments might indicate future market shifts or emerging threats that could eventually impact your business. Therefore, it's crucial to monitor all competitors, regardless of current audience overlap, to identify potential opportunities and mitigate future risks. The idea that you only need to focus on defense against direct competitors is too narrow a view for effective competitive analysis.