Used as a key intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its structure allows for selective bromination and coupling reactions, making it valuable in constructing complex heterocyclic systems. Commonly employed in the synthesis of natural product analogs and bioactive molecules, especially those with antimicrobial or anti-inflammatory properties. Also utilized in materials science for designing functionalized organic semiconductors and fluorescent probes due to its conjugated lactone framework.