Used primarily as an intermediate in organic synthesis, particularly in the pharmaceutical industry for constructing complex aromatic and heterocyclic compounds. Its ester and ketone functional groups allow for selective transformations, such as hydrolysis, reduction, and condensation reactions, making it valuable in the preparation of active pharmaceutical ingredients (APIs). It also finds use in fragrance synthesis due to its aromatic character and ability to undergo modifications that yield odor-active molecules. The compound’s structure supports cyclization processes, enabling the formation of benzofuran and coumarin derivatives, which are common scaffolds in bioactive molecules.