Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the preparation of complex organic molecules requiring selective coupling reactions. Its halogen substituents allow for sequential functionalization through cross-coupling reactions like Suzuki or Heck couplings, enabling the construction of substituted aromatic systems. Also employed in the development of bioactive compounds where the iodo and chloro groups serve as sites for further modification. The methoxy group enhances solubility and directs electrophilic substitution in specific positions during synthesis.