Same product with different formats that determine price and get added to line item titles
I have a taxonomy term select list where the administrator can add one or more formats to a product entity. The term itself has a price coefficient field that should be used to determine the price of the product in that format. On the product display page there should be a 'add to cart' button for every format of that product. The title of the product in the cart/order views should display the format and the price should be according to what was calculated using the product base price and the format coefficient.
It could be assumed that every product display has only one product entity associated with it if this makes things easier.
I could probably work out the details myself, but having trouble finding ways to implement the necessary functionality as I have very little experience with the module (and views, rules modules). Maybe there's good hooks or things I could do via the admin interface already? Some pointers, ideas or even good alternatives that get the same result overall would be much appreciated.