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In this tutorial on Microsoft Publisher 2016, the instructor discusses how to replace text boxes, including both placeholder and default text. The video begins with an overview of a flyer designed in Publisher, showcasing various objects within it. As the instructor zooms in, they explain the different types of text present, some being generic and others more specific, such as a business name. Additionally, the flyer includes images and expected file placements. When clicking on a generic text box, the text is automatically highlighted, allowing users to easily replace it by typing in a new name or information, demonstrating the user-friendly text replacement functionality.