Used primarily as an intermediate in organic synthesis, especially in the preparation of pharmaceuticals and fine chemicals. Its structure allows for functionalization in the development of bioactive molecules. Commonly employed in the synthesis of analgesics and anti-inflammatory agents due to the presence of methoxy and phenoxy groups that can influence biological activity. Also utilized in the production of fragrances and flavoring agents, where its aromatic character contributes to sensory properties. Serves as a building block in the creation of more complex ketone-based compounds for research and industrial applications.