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In this video tutorial, the presenter demonstrates how to use the Find and Replace feature in Microsoft Word. This tool is particularly useful for editing template documents where a specific word or phrase needs to be replaced consistently throughout. Using the example of an employee handbook, the presenter identifies a generic placeholder for the company name, which appears multiple times in the document. To replace it, the presenter copies the placeholder (including the brackets) and accesses the Replace function under the Home ribbon. After pasting the placeholder into the Find field, the presenter also spots an extra space that needs to be deleted to ensure accurate replacement.