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In this video tutorial, the speaker explains how to create a Request for Proposal (RFP) response template using Microsoft Word. They begin by showcasing a purchasable template example and outline the essential components to include. The first element discussed is the cover page, which should feature the RFP number for internal tracking purposes and a prominently displayed title for easy identification upon opening the document. The speaker emphasizes the importance of adhering to specific requirements that may be outlined by the RFP issuer. Overall, the tutorial aims to guide viewers in developing a comprehensive and effective RFP response template.