Used in organic synthesis as an intermediate for pharmaceuticals and fine chemicals. Serves as a building block in the preparation of bioactive molecules, including certain vasodilators and cardiovascular agents. Commonly employed in research settings for the development of novel therapeutic compounds due to its phenolic structure and methoxy group arrangement, which can influence antioxidant and receptor-binding properties. Also utilized in the synthesis of natural product analogs and in medicinal chemistry for structure-activity relationship studies.