Used as an intermediate in organic synthesis, particularly in the development of pharmaceutical compounds. It serves as a building block in the preparation of ester-based prodrugs and functionalized benzyl derivatives. Its ether and ester functionalities allow for selective transformations, making it valuable in medicinal chemistry for modifying solubility and bioavailability of drug candidates. Also employed in the synthesis of liquid crystals and other specialty chemicals requiring aromatic ester motifs with ether linkages.