I looked up the two words on wikitionary & got this:
A literary technique of writing or art which principally ridicules its subject often as an intended means of provoking or preventing change. Humour is often used to aid this.
A form of humor that is marked by bitter mockery, often using irony, and sometimes conveyed in speech with vocal over-emphasis. With irony, it is insincerely saying something positive which is obviously the opposite of one's intended, cruel meaning. On the other hand it may be a direct taunt where the jibe means exactly what it says.
At first glance, they seem equivalent to me. Is there a clear distinction about when to use one & when to use the other?