CiviMAIL (management of mailing lists and newsletters) allows to:
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send mailing to specific groups of contacts (include / exclude)
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reuse already sent mailing
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automatic management of unsubscribe / opt-out
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highlight unreachable email addresses (bounce) and the reason why
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track for each recipient opening, re-opening and forwarding of your mailing
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track for each recipient specific clickthroughs
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set variable fields (tokens) within your mailing
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use default headers/footers