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In this video tutorial, the presenter explains how to create an RFP (Request for Proposal) response template using Microsoft Word. Key components of the template are discussed, starting with the cover page, which should include the RFP number for internal tracking and the title in large font for visibility. The presenter highlights that specific requirements for the cover page may vary by RFP. Additionally, a purchased template is referenced, and viewers are encouraged to consider including various essential elements in their own templates. The overall goal is to provide a structured approach to responding to RFPs effectively.