Premise: Forgive the sloppiness, I have some math background but I'm not a mathematician, any correction is more than welcome.
I don't really conceptualize them as the same kind of object, to be honest. I'm aware exponentiation is more fundamental, but the kind of exponentiation you are referring to is related to the intuitive concept of "do this N times", which only makes sense for positive integers.
When you are talking about real numbers, the notion of "repeated multiplication" and "exponentiation" diverge, for example, (-2)^2 is well defined and equal to (-2)(-2), but (-2)^(1/2) isn't, unless you relate it to the exponential function.
Since the OP was about a notation proposal for working with real numbers, in that specific context I believe the more natural interpretation is to relate everything to the complex exponential and work your way up from there.