Suppose we define $\exp(x)$ as the unique function $f:\mathbb{R} \rightarrow \mathbb{R_+}$ satisfying $f(0) = 1$ and $f'(x) = f(x)$ for all $x \in \mathbb{R}$. We then define its inverse $f:\mathbb{R_+} \rightarrow \mathbb{R}$ denoted $\log(x)$. Then, define $b^x$ for $b>0$ as $\exp(x\log b)$.
Then, how can we show that the "usual" properties of exponentiation are satisfied for integer and rational values of $x$ and $b$. Namely, $\prod_{i=1}^{n}{b} = b^n$, $b^{p/q} = \sqrt[q]{b^p}$ (where $\sqrt[q]{x}$ for $x>0$ has been appropriately defined as the unique positive number $m$ satisfying $\prod_{i=1}^{q}{m} = x$; of course we needn't consider negative arguments since $b>0$ ), $b^qb^p = b^{p+q}, $$(b^q)^p = b^{pq}$, etcetera.
In other words, how can we show this somewhat artificial definition is equivalent to the notion of exponentiation that we all are familiar with.
I will use a slightly different approach than Wojowu, who uses uniqueness in an essential way.
Let $g_y(x) = f(-x)f(x + y)$. Then $g'(x) = -f'(-x)f(x+y) + f(-x)f'(x+y) = 0$. Thus $g_y(x)$ is constant, with $g_y(x) = g_y(0) = f(0)f(y) = f(y)$. In particular, letting $y = 0$, we find $1 = f(0) = g_0(x) = f(-x)f(x)$. This shows that $f(x+y) = f(x)f(-x)f(x+y) = f(x)g_y(x)=f(x)f(y)$. This is the fundamental property of $f$.
The formula $f(x)f(-x) = f(0) = 1$ shows, in particular, that $f(x) \ne 0$. Since $f$ is continuous and $f(0) = 1$, the function must always be positive, by the intermediate value theorem. Since $f'(x) = f(x) > 0$, the function $f$ is strictly increasing from $\mathbb{R}$ to $(0,+\infty)$. Define $e = f(1) > f(0) = 1$.
The formula $f(nx) = f(x)^n$ (in which integral powers have their usual meaning) can be proved by induction for $n \geq 1$ using the fundamental formula, and extended to negative values of $n$ using $f(nx)f(-nx) = 1$. The fact that $f(n) = e^n$ shows $f(x)$ is unbounded below and above within $(0,+\infty)$, hence by the intermediate value theorem its range is all of $(0,+\infty)$. We now write $\exp$ and $\log$ for the function $f$ and its inverse.
Define $b^x$ to be $\exp(x \log b)$. When $x$ is an integer $n$, this has its usual meaning since $\exp(n \log b) = [\exp(\log b)]^n = b^n$. We have $\left(b^{1/q}\right)^q = \left[\exp\left(\frac{1}{q}\log b\right)\right]^q = \exp\left(q \cdot \frac{1}{q} \log b\right) = \exp(\log b) = b$. This proves that $b^{1/q} = \sqrt[q]{b}$. Now for integral $p$, we have $b^{p/q} = \exp\left(\frac{p}{q}\log b\right) = \left[\exp\left(\frac{1}{q}\log b\right)\right]^p = \left(b^{1/q}\right)^p = \left(\sqrt[q]{b}\right)^p$. Note also that $b^x$ is an increasing or decreasing bijection from $\mathbb{R}$ to $(0,+\infty)$, according to the sign of $\log b$, i.e., to whether $b > 1$ or $b< 1$. (The fact that the function $b^x$ has the expected values for rational $x$ and is monotonic characterizes it completely.)
We have $b^{x+y} = \exp[(x+y)\log b] = \exp(x \log b)\exp(y \log b) = b^x b^y$, from the fundamental formula.
We also have $(b^x)^y = \exp(y \log b^x) = \exp(y \log[\exp(x \log b)]) = \exp(yx \log b) = b^{xy}.$