This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the field of medicinal chemistry. It serves as a key intermediate in the production of biologically active compounds, including those with potential therapeutic applications. Its structure, featuring conjugated dienes and a benzyloxy group, makes it a valuable precursor in the development of drugs targeting various diseases. Additionally, it is employed in the creation of fragrances and flavoring agents due to its ability to contribute to the formation of aromatic esters. In research, it is often used to study reaction mechanisms involving dienes and esters, aiding in the advancement of synthetic methodologies.