I'd like to second this methodology. It is a very effective approach. I've worked across multiple specialties within technology and I always tailor my CV to the job I am applying for. I highlight the most relevant experience and skills required and remove (or summarize) experience that is not relevant to the position.
Matching your CV to the job can be as simple as updating it to use the same keywords that you see on the job advert. It sounds trivial but many recruiters will filter job applications with a keyword search. If they dont see the exact keywords they are expecting, your CV will be thrown away.
Good luck!