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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 useful for replacing specific words or phrases throughout a document, such as a template. As an example, the presenter uses an employee handbook template that includes a placeholder for the company name, formatted in bold and brackets. The process involves selecting and copying the placeholder text, navigating to the editing section on the home ribbon, and clicking on "Replace." The presenter also reminds viewers to check for any unintended spaces that might have been copied during the process.