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 active pharmaceutical ingredients (APIs) due to the presence of both ester and phenolic functional groups, which allow for further chemical modifications. Commonly employed in the synthesis of anti-inflammatory agents, central nervous system (CNS) drugs, and other bioactive molecules. Its structure is useful in creating analogs of natural products and in medicinal chemistry research for structure-activity relationship (SAR) studies. Also utilized in the fragrance industry as a precursor for aroma compounds owing to its aromatic character and reactivity.