If I assume that you are starting with existing text like:
This is quote bold test test test unbold end quote.This is quote bold test test test unbold end quote.
The maybe something like this is what you are after"
Code:
Sub ScratchMacro()
'A basic Word macro coded by Greg Maxey
Dim oRng As Word.Range
Set oRng = ActiveDocument.Range
With oRng.Find
.Text = "quote bold*unbold end quote"
.MatchWildcards = True
While .Execute
oRng.Words.First.Delete
oRng.Words.First.Delete
oRng.Words.Last.Delete
oRng.Words.Last.Delete
oRng.Words.Last.Delete
oRng.Bold = True
oRng.InsertBefore """"
oRng.InsertAfter """"
oRng.Characters.Last.Bold = False
oRng.Collapse wdCollapseEnd
Wend
End With
lbl_Exit:
Exit Sub
End Sub