Used in the synthesis of pharmaceutical intermediates, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a building block in organic reactions due to its functional groups, enabling the formation of esters, amides, and other derivatives. Also employed in the fragrance industry for the production of musk-like aroma compounds. Its methyl and methoxy substituents enhance lipophilicity, making it useful in modifying drug absorption characteristics.