Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) and related analgesic compounds. Its structure allows for functional modifications that enhance drug potency and selectivity. Also employed in fragrance formulations due to its pleasant, sweet, floral-fruit aroma, making it valuable in cosmetics and perfumery. Serves as a building block in organic synthesis for introducing aromatic and ester functionalities in medicinal chemistry research.