This chemical is primarily used in the synthesis of organic compounds, particularly in the development of pharmaceuticals and dyes. It serves as a key intermediate in the production of naphthalene-based derivatives, which are often utilized in medicinal chemistry for creating drugs with anti-inflammatory, antimicrobial, or anticancer properties. Additionally, its structure makes it valuable in the preparation of fluorescent dyes and pigments, which are applied in biological staining and industrial coloring processes. The methoxy and bromo functional groups enhance its reactivity, making it a versatile building block in organic synthesis.