marker vs pip

marker and pip both are nouns.

Word	Noun	Adjective	Verb	Adverb
marker	Yes	No	No	No
pip	Yes	No	Yes	No

As nouns, pip is a hyponym of marker; that is, pip is a word with a more specific, narrower meaning than marker:

marker (noun)	pip (noun)
some conspicuous object used to distinguish or mark something	a mark on a die or on a playing card (shape depending on the suit)
a writing implement for making a mark	a radar echo displayed so as to show the position of a reflecting surface
a distinguishing symbol	a small hard seed found in some fruits
	a disease of poultry
	a minor nonspecific ailment

marker (verb)	pip (verb)
	defeat thoroughly
	hit with a missile from a weapon
	kill by firing a missile