Identify use cases for AppExchange applications.
In addition to customizing Salesforce with declarative and programmatic features, third-party apps and components can be installed from AppExchange. AppExchange is a marketplace for business software built on the Salesforce platform.
AppExchange apps extend Salesforce functionalities with department or industry-specific functionalities. Instead of building solutions from scratch, apps can be installed and integrated in existing Salesforce orgs directly from AppExchange.
A common scenario to use an AppExchange app would be the need for a functionality to generate customer letters based on data stored in Salesforce. Another example would be the need to document customer interaction in compliance with industry specific norms.
AppExchange components are prebuilt Lightning components which can be easily reused to build new apps and pages in the App Builder.
A common scenario to use an AppExchange components would be the need of a Lighting component to display account structures visually in tree diagrams.