Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the preparation of coumarin derivatives which exhibit biological activity. It serves as a building block in organic synthesis due to the presence of both aldehyde and ester functional groups, enabling diverse reactions such as cyclizations and condensations. Commonly employed in the development of fragrances and dyes owing to its aromatic structure and reactivity. Also utilized in research settings for constructing heterocyclic compounds with potential medicinal properties.