This compound is primarily utilized in organic synthesis as a building block for creating more complex molecules. Its conjugated diene structure makes it valuable in Diels-Alder reactions, where it acts as a diene to form cyclic compounds. It is also employed in the development of pharmaceuticals, particularly in the synthesis of bioactive molecules with potential therapeutic properties. Additionally, its phenyl and carboxylic acid groups allow it to be used in the preparation of polymers and materials with specific optical or electronic properties. In research, it serves as a model compound for studying reaction mechanisms and photochemical processes.