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In today's video, we discuss how to create an RFP response template using Microsoft Word. The tutorial includes a walkthrough of essential elements to include in the template. The first element is the cover page, which may have specific requirements depending on the RFP. A standard cover page should feature the RFP number for internal tracking and a prominently displayed title to ensure clarity as soon as the document is opened. The video also references an example template available for purchase, providing viewers with a practical resource to aid in their response preparation.