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In this video tutorial, the speaker discusses how to create an RFP (Request for Proposal) response template using Microsoft Word. They provide an example of a purchasable template and outline essential elements to include. The first element is a cover page, which may have specific requirements dictated by the RFP or follow a standard format. Key components to feature on the cover page are the RFP number for internal tracking and a prominently displayed title for easy identification upon opening the document. Further details on additional template elements will follow in the tutorial.