Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block for the development of flavonoid analogs and other bioactive molecules due to the presence of the phenolic and ester functionalities. Its structure allows for easy modification through ester hydrolysis, etherification, or ring substitution, making it valuable in medicinal chemistry for designing compounds with antioxidant, anti-inflammatory, or neuroprotective properties. Also employed in the synthesis of fragrances and flavoring agents owing to its aromatic character and ester moiety.