Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its structure allows for further functionalization, making it valuable in the development of complex molecules. It is particularly useful in the synthesis of compounds with potential therapeutic properties, such as anti-inflammatory or anticancer agents. Additionally, it finds applications in the preparation of agrochemicals and dyes, where its bromine and methoxy groups play a crucial role in reactivity and selectivity.