Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals. Its structure allows for incorporation into more complex molecules where the phenoxy backbone is needed for biological activity. Commonly employed in the development of local anesthetics and antiarrhythmic agents due to its ability to modulate ion channels. Also utilized in the preparation of specialty esters for fragrance applications, providing a mild, pleasant odor profile. Serves as a building block in organic synthesis, particularly in reactions requiring ether or ester functionalities.