How can I reverse geocode with google maps api?

I am using the following code to display google maps on my website with autocomplete functionality.

I would like to be able to reverse geocode using the longitude and latitude and echo the address on my page.

How is this implemented am I on the right path?

<script type="text/javascript">
      function initialize() {
        var mapOptions = {
          center: new google.maps.LatLng(-33.8688, 151.2195),
          zoom: 17,
          mapTypeId: google.maps.MapTypeId.ROADMAP
        };
        var map = new google.maps.Map(document.getElementById('map_canvas'),
          mapOptions);

        var input = document.getElementById('searchTextField');
        var autocomplete = new google.maps.places.Autocomplete(input);

        autocomplete.bindTo('bounds', map);

        var infowindow = new google.maps.InfoWindow();
        var marker = new google.maps.Marker({
          map: map,
          draggable: true
        });

        google.maps.event.addListener(autocomplete, 'place_changed', function() {
          infowindow.close();
          var place = autocomplete.getPlace();
          if (place.geometry.viewport) {
            map.fitBounds(place.geometry.viewport);
          } else {
            map.setCenter(place.geometry.location);
            map.setZoom(17);  // Why 17? Because it looks good.
          }

         google.maps.event.addListener(marker, "dragend", function (event) {
                var point = marker.getPosition();
                map.panTo(point);
                document.getElementById("latitude").value = point.lat();
                document.getElementById("longitude").value = point.lng();
            });

          var image = new google.maps.MarkerImage(
              place.icon,
              new google.maps.Size(71, 71),
              new google.maps.Point(0, 0),
              new google.maps.Point(17, 34),
              new google.maps.Size(35, 35));
          marker.setIcon(image);
          marker.setPosition(place.geometry.location);

          var address = '';
          if (place.address_components) {
            address = [(place.address_components[0] &&
                        place.address_components[0].short_name || ''),
                       (place.address_components[1] &&
                        place.address_components[1].short_name || ''),
                       (place.address_components[2] &&
                        place.address_components[2].short_name || '')
                      ].join(' ');

          }

          infowindow.setContent('<div><strong>' + place.name + '</strong><br>' + address);
          infowindow.open(map, marker);
        });


      }
      google.maps.event.addDomListener(window, 'load', initialize);
    </script>

Try this for Google Reverse Geocoding:

Reverse geocoding