Used in organic synthesis as a versatile intermediate for producing various complex molecules. It is particularly valuable in the synthesis of pharmaceuticals, agrochemicals, and fragrances. The compound's structure, featuring both an ester and a ketone functional group, allows it to participate in reactions like Michael additions, aldol condensations, and cyclizations. It is also employed in the development of flavoring agents due to its ability to contribute to fruity and floral notes. Additionally, it serves as a building block in the preparation of biologically active compounds, including potential drug candidates.