My initial reaction based on the reports coming out prior to the launch of a Social Network from Google being called: Circles
Based on reports like this one from READWRITEWEB Google Circles is reported to offer photo, video and status message sharing. Everything users share on Circles will be shared only with the most appropriate circle of social contacts in their lives, not with all your contacts in bulk. Clearly this takes aim at the most common gripe with Facebook, lack of concern for users privacy.
It appears that the RRW report is a bit ahead of itself, and the launch of circles is the subject of speculation, but nonetheless marketers and people in general would benefit from a social framework that respects privacy and makes that a part of its functionality.
You can read that article for the details about the reported launch and who is building it. Here you can read about what a successful Google Circles would mean for Marketing via social media and online in general.