Can I display banners on certain product pages only?

Yes, first you should navigate to Promotions > Banners > Banner Content and choose the banner position to be “Product Page” or “On  Top of Page”.

1) There will appear a special field for you to specify the SKUs of the products where your promo banner should be visible:

2) You will also be able to choose product attributes and define their values to display promo banners accordingly: