How to create email templates in Gmail?

One of the most common emails I get is folks inquiring about investing in the Tata Motors Fixed Deposit Scheme. I have a more or less standard response that I type out every time, and each time I think that I will save it in a notepad, and use it next time, but somehow I never get to it.

Today I discovered a much more efficient way of doing this, and I want to share the video which taught me this. This video is from Amy Andrews who runs Blogging with Amy, and she lists out the steps to create a canned response in Gmail. This is a Labs feature, and I have a feeling a lot of people like me need this type of a thing. I came across this video on Problogger.