Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its hydroxyl and ester functional groups allow for selective modifications, making it valuable in constructing complex molecules. Commonly employed in the development of active pharmaceutical ingredients (APIs) where aromatic esters are needed. Also utilized in the synthesis of fragrances and flavoring agents due to its aromatic character and stability. Serves as a building block in research settings for designing novel compounds with biological activity.