Time outs and taking away priviledges is from my experience MUCH more effective in "teaching a child" that their behavoir is not acceptable.
Not spoiling the child, setting boudaries, following through with what you have said, natural consequences, are a life long learning basis for children. Holding them accountable and responsible for their actions, honesty, you know the things that will form a ethical human being.
Not showing the child that "violence" is the answer, what lesson does that teach kids. That violence is acceptable, that Mom and Dad are bigger, stronger, in control, have power over them and can "physically" hurt them.
About leaving marks, too many parents abuse kids and use the excuse " I was just disipling him, and blame the child. Too many parents "lose control", too many parents uyse physical force.
A "deeply" religious family "read the Bible literally, and "physically" harmed their kids, you know "the rod", buised the kids, left marks, CAS was involved, kids removed, and the parents "cried" relligious prosecution, they were raising their kids "accoding" to God. They were "hurt" that bad, but had to be taught a lesson. Kids were returned, but they were given parenting lessons, and "well supervised".
So now I do not agree with any physical punishment for children under any circumstances. Violence is not the answer...........