Used as a key intermediate in organic synthesis, particularly in the production of flavonoids and chalcone derivatives, which exhibit biological activities such as anti-inflammatory, antimicrobial, and anticancer properties. Commonly employed in Michael addition reactions and cyclization processes to build heterocyclic compounds like pyrazolines and isoxazoles. Also utilized in the development of dyes, fragrances, and agrochemicals due to its conjugated structure and reactivity. Serves as a building block in pharmaceutical research for designing compounds with potential therapeutic effects.