Oracle CRM-Email marketing

Hi Team,

               I am a newbie to Oracle CRM. I am working on marketing module and am stuck at a point.

Issue:-

I have created an email marketing activity.Imported a list which has first name,last name,email address,phone area code,phone number and sales agent ID. Prior to that i have also configured the Email Server by navigating to One-to-One fulfillment server.Under the email marketing activity,created a new cover letter under basic fulfillemnt type and tested it by giving my personal email and it worked however when i activated the email activity, the email addresses in the target list did not receive any email. Also the mail merge fields that were present in the content appeared as it is (i.e. <<lastname>> etc). This gives