Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It serves in the preparation of more complex organic molecules where the bromo and hydroxyl functional groups allow for further chemical modifications. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to form carbon-carbon bonds. Also utilized in the development of specialty chemicals including fragrances and antioxidants due to its phenolic structure. Its reactivity makes it valuable in research laboratories for building substituted aromatic compounds.