Exeter went into the game bottom of League One and Dale dominated the first half, Ashley Grimes taking advantage of a defensive error to hand on-loan Liverpool winger Nathan Eccleston a debut goal.
But Dale contrived to let Exeter back into the game, allowing former United youngster Daniel Nardiello to poke home on the stroke of half-time from David Noble's deflected shot.
The former United trainee and ex-Bury loanee then converted a 56th-minute penalty after Marcus Holness hauled down Jake Taylor.
And Exeter then sealed victory when Taylor, 19, beat Jake Kean from a tight angle late on to register his first senior goal.
A third game without a win leaves Dale perilously placed, just a point above the drop zone ahead of tomorrow night’s crucial home game against third-bottom Chesterfield.
“When we look at the game I don’t think there will be three worse goals conceded,” said Eyre, who took charge in the summer.
“For the first time this season I feel let down by our defending. Disappointed is normally the feeling when you lose a football match but I’m borderline fuming.”
Rochdale: Kean 6, Darby 6, Balkestein 6, Holness 5, Trotman 5, Adams 5 (Kennedy 6, 66), Jones 6, Tutte 5 (Benali 6, 66), Eccleston 6, Akpa Akpro 5, Grimes 6. Tweet

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