This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various complex molecules. Its structure, featuring multiple phenyl and acetoxy groups, makes it suitable for further functionalization and polymerization processes. It is often employed in the development of advanced materials, including liquid crystals and photoresponsive polymers, which are essential in electronics and display technologies. Additionally, it finds application in research related to photochemistry, where its conjugated diene system is studied for light-induced reactions and energy transfer mechanisms.