ClassNotFoundException while loading ContextLoaderListener

Question

I am working on a webapp, using spring 3.0, hibernate. When I try to deploy my app on WAS 7.0, it gives me the error - Failed to load listener: org.springframework.web.context.ContextLoaderListener]: java.lang.ClassNotFoundException:

Here is how my web app looks:

<?xml version="1.0" encoding="UTF-8"?>
   <web-app xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://java.sun.com/xml/ns/javaee" xmlns:web="http://java.sun.com/xml/ns/javaee/web-app_2_5.xsd"
xsi:schemaLocation="http://java.sun.com/xml/ns/javaee http://java.sun.com/xml/ns/javaee/web-app_2_5.xsd" id="WebApp_ID" version="2.5">
<display-name>ABC</display-name>
<welcome-file-list>
    <welcome-file>index.html</welcome-file>
</welcome-file-list>
<context-param>
    <param-name>contextConfigLocation</param-name>
    <param-value>classpath:applicationContext.xml</param-value>
</context-param>
<listener>
    <listener-class>org.springframework.web.context.ContextLoaderListener</listener-class>
</listener>

The exception being thrown is as follows,

com.ibm.ws.webcontainer.webapp.WebApp logError SRVE0293E: [Servlet Error]-[Failed to load listener: org.springframework.web.context.ContextLoaderListener]: java.lang.ClassNotFoundException: class java.lang.ClassNotFoundException: org.springframework.web.context.ContextLoaderListener
at java.beans.Beans.instantiate(Beans.java:190)
at java.beans.Beans.instantiate(Beans.java:75)
at com.ibm.ws.webcontainer.webapp.WebApp.loadListener(WebApp.java:1643)
at com.ibm.ws.webcontainer.webapp.WebAppImpl.loadListener(WebAppImpl.java:671)
at com.ibm.ws.webcontainer.webapp.WebApp.loadLifecycleListeners(WebApp.java:1554)

So, is there anything wrong in web.xml ?

Edit: Sorry I did not mention, I am using Maven to get the jars. I have the required jar file in the WEB-INF folder too i.e. org.springframework.web.context