Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. It serves as a building block in the preparation of more complex molecules due to the reactivity of the ketone and the substituent on the aromatic ring. Commonly employed in the synthesis of local anesthetics and anti-inflammatory agents. Also utilized in fragrance compounds for its aromatic properties, contributing to the development of perfumes and flavoring agents. Its ethoxy and acetyl functional groups allow for diverse chemical transformations, making it valuable in research and industrial applications.