Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of more complex esters and aromatic derivatives. It finds application in the development of fragrances and flavoring agents due to its ability to undergo controlled transformations into bioactive molecules. Additionally, it is employed in research settings for studying esterification pathways and acyl transfer reactions. Its structure makes it suitable for use in photochemical studies and as a building block in the synthesis of certain pharmaceuticals.