I don't but a lot of companies do. As with most things it depends on the product and market.
If it's the way you want to go then I wouldn't have a bespoke page for each keyword but would have a number of different landing pages which groups of similar keywords land on.
Dedicated landing pages can make a big difference to your conversion rate. Just be careful not to do duplicate pages of the same information as google will penalise you for that.
Feel free to mail me if you have any more specific questions
