There are many use cases for pointers.
Polymorphic behavior. For polymorphic types, pointers (or references) are used to avoid slicing:
class Base { ... };
class Derived : public Base { ... };
void fun(Base b) { ... }
void gun(Base* b) { ... }
void hun(Base& b) { ... }
Derived d;
fun(d); // oops, all Derived parts silently "sliced" off
gun(&d); // OK, a Derived object IS-A Base object
hun(d); // also OK, reference also doesn't slice
Reference semantics and avoiding copying. For non-polymorphic types, a pointer (or a reference) will avoid copying a potentially expensive object
Base b;
fun(b); // copies b, potentially expensive
gun(&b); // takes a pointer to b, no copying
hun(b); // regular syntax, behaves as a pointer
Note that C++11 has move semantics that can avoid many copies of expensive objects into function argument and as return values. But using a pointer will definitely avoid those and will allow multiple pointers on the same object (whereas an object can only be moved from once).
Resource acquisition. Creating a pointer to a resource using the new operator is an anti-pattern in modern C++. Use a special resource class (one of the Standard containers) or a smart pointer (std::unique_ptr<> or std::shared_ptr<>). Consider:
{
auto b = new Base;
... // oops, if an exception is thrown, destructor not called!
delete b;
}
vs.
{
auto b = std::make_unique<Base>();
... // OK, now exception safe
}
A raw pointer should only be used as a "view" and not in any way involved in ownership, be it through direct creation or implicitly through return values. See also this Q&A from the C++ FAQ.
More fine-grained life-time control Every time a shared pointer is being copied (e.g. as a function argument) the resource it points to is being kept alive. Regular objects (not created by new, either directly by you or inside a resource class) are destroyed when going out of scope.