Yes, fish sometimes key on a particular bait size and action, and sometimes that is bigger and louder. That being said, most times both (I think that is an arbitrary designation anyway) will work.
I see it differently, you fish fast, you fish slow, you fish big baits, you fish small baits, You fish with heavy gear, you fish with light gear, you fish with spinning, you fish with BC, etc, etc, the goal is the same, present a lure to a fish so that it strikes it, method be darned, but then I always start with the goal being catch a fish. Crushed with a DIY mini-max bluegill(ish) chatter today.