marking vs pip

marking and pip both are nouns.

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

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

marking (noun)	pip (noun)
evaluation of performance by assigning a grade or score	a mark on a die or on a playing card (shape depending on the suit)
the act of making a visible mark on a surface	a radar echo displayed so as to show the position of a reflecting surface
a pattern of marks	a small hard seed found in some fruits
a distinguishing symbol	a disease of poultry
	a minor nonspecific ailment

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