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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 of a template available for purchase and discuss essential elements to include in the template. The first element covered is the cover page, which should feature the RFP number for internal tracking and a clear title in large font for easy identification. The tutorial emphasizes the importance of adhering to any specific requirements outlined in the RFP regarding the cover page and offers guidance on standard practices for structuring the response template.