Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of herbicides and plant growth regulators. It serves as a building block for auxin-type compounds that influence cell elongation and division in plants. Also employed in organic synthesis for introducing phenoxyacetic acid derivatives in drug development. Its bromo functionality allows for further coupling reactions, such as in palladium-catalyzed cross-couplings, making it valuable in medicinal chemistry for constructing complex molecules.