This compound is primarily utilized in organic synthesis as a versatile intermediate for the preparation of more complex molecules. It is often employed in the development of pharmaceuticals, where its reactive bromo and chloro groups allow for further functionalization through various chemical reactions, such as nucleophilic substitution or cross-coupling reactions. Additionally, it serves as a key building block in the synthesis of agrochemicals and specialty chemicals, contributing to the creation of compounds with specific biological or chemical properties. Its ester group also makes it useful in the study of esterification and hydrolysis reactions in research settings.