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You do need to install a third party TFTP server. I have been using Solarwinds TFTP in our enterprise production AutoDeploy vSphere environment for more than a year and have never had an issue with it. Install it and configure it to run as a service and you are good to go.
You also could use tftpd64 (http://tftpd32.jounin.net) if you're using a 64 bit version of Windows. I couldn't get Solar Wind's version to work on Windows 7 x64.
Ps tftpd and Solar Winds are just exe files, no need to install anything i believe.