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In this tutorial on Microsoft Publisher 2016, the instructor explains how to replace text boxes, including both placeholder and default text. The video showcases a Microsoft Publisher flyer with various objects. As the instructor zooms in, they highlight different types of text—generic and specific, such as business names—and point out the presence of images within the objects. When clicking on a generic text box, it automatically highlights all the text, allowing users to type in new content, demonstrated by typing the title "replace publisher plac." The tutorial aims to guide users in effectively modifying text within their Publisher projects.