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I create different marketo landing pages for each campaigns. I also create different versions of the landing pages for A/B testing.
I think it makes a lot of sense to have different landing pages for each campaign, particularly if those campaigns are targeting different key words. That way you can optimize each of the landing pages to those key words. You'll also be able to see which campaigns are working best by tracking conversions independently on the landing pages. For example, if Campaign 1 has 100 clicks, but only 1 convert, while Campaign 2 had 10 clicks with 1 convert, you might up your spend on Campaign 2, since it has a better conversion rate than Campaign 1.
This approach has really helped us improve our adwords spend - both reducing cost per click and improving overall results.
Hope this helps!