Pricing Adjustments based on multiple rules

I have a scenario where a price adjustment needs to be made price of the item on a sales order. The adjustments can be a mark up, discount or a price override.
The adjustments are based on below conditions.
Customer Group & Product Group

Customer Group & Product ID

Customer ID & Product Group

Customer ID & Product ID

Customer ID

Product ID

Ship to Customer & Product ID
Based on the priority set to the rules only one of these rules should apply to the order line and the coresponding pricing adjustment should be made.
The solution I have in mind is create a price list and define standard price for the items. Create a discount list and layout all the conditions on the attribute based rule.