I've added a map with a marker to my website but I'm not sure what the Title attribute does for the marker.
I've used the documentation from the developers.google website
https://developers.google.com/maps/documentation/javascript/examples/marker-simple
In this example what does the "hello world" (marker title) exactly do? I am on OS X El Capitan - Chrome
function initMap() {
  var myLatLng = {lat: -25.363, lng: 131.044};
  var map = new google.maps.Map(document.getElementById('map'), {
    zoom: 4,
    center: myLatLng
  });
  var marker = new google.maps.Marker({
    position: myLatLng,
    map: map,
    title: 'Hello World!'
  });
}
User @Vijaykrish93 pointed out, that the title object in the Marker represents the tooltip value.
For labels the documentation has you covered. You just need to set the value for label in Marker:
var marker = new google.maps.Marker({
    position: myLatLng,
    map: map,
    label: "Hello World!"
});
or by using the MarkerLabel interface:
var marker = new google.maps.Marker({
    position: myLatLng,
    map: map,
    label: {
        fontSize: "8pt",
        text: "Hello World!"
    }
});
More formatting options beside fontSize are described here.
If you love us? You can donate to us via Paypal or buy me a coffee so we can maintain and grow! Thank you!
Donate Us With