Used in the fragrance and flavor industry due to its sweet, balsamic, and floral-woody aroma. Commonly found in perfumes, soaps, and cosmetics to enhance scent longevity and add depth. Also serves as an intermediate in organic synthesis, particularly in the preparation of more complex aromatic compounds for pharmaceuticals and agrochemicals. Its structural features make it valuable in the development of specialty chemicals requiring methoxy and ethoxy substitutions on aromatic rings.