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In this video tutorial, the presenter explains how to create an RFP (Request for Proposal) response template using Microsoft Word. They provide an example template available for purchase and outline essential elements to include. The tutorial starts with the cover page, which may vary in requirements depending on the RFP. Key components to include on the cover page are the RFP number for internal reference and the title in a large font for visibility. The presenter emphasizes the importance of these elements for a well-structured and effective RFP response template.