Thats the name you give to the marker. You can write e.g. Mname1 to the name field when creating marker and then use the loop like this:
while {true} do {sleep 0.05; "Mname1" setmarkerpos (position itemname);};
In the same way the script name can be anything, just with the sqf end (or sqs but then execVM needs to be just exec).
Edit: And if you have many markers, you dont need to make a separate script for every marker. Just change the script to look like this:
_m = _this select 0;
_i = _this select 1;
while {true} do {sleep 0.05; _m setmarkerpos (position _i);};
And use the script like this:
_nul = ["Mname1",itemname] execVM "ScriptName.sqf";
_nul = ["Mname2",player] execVM "ScriptName.sqf";
Or just add more markers to move to the loop:
while {true} do {sleep 0.05;
"Mname1" setmarkerpos (position itemname);
"Mname2" setmarkerpos (position player);};