http://www.ehow.com/how_5656042_use-activated-charcoal-odor-neutralizers.html says that it can eliminate odors, but it only recommends it for small spaces.
When researching air purification you will come across a popular subject.
Ionisers VS Ozoninzer VS Activated Carbon
This makes the air particles that get ionised turn into a 'magnet' because it is statically charges. You know like when your arm hairs rise to a piece of statically charged paper or sweater.
Advantages Is silent and can run anywhere in your home. Does not cause any health problems, it actaully good for people with allergies as it binds to dust and pollen. It will remove smells like cigarretes,smoke and other slight odours.
Disadvantages These particles don't evaporate into thin air.. once the ion binds to its victim it will drop to the floor, or stick to the wall.. in turn if you don't vacume(use a HEPA filter vacume) or clean your walls; overtime the odours can become worse and your hosue will suffer from static dust.
Ozone has this myth behind it that it kills bacteria and smells. In fact it is very dangerous for all living things.. In large quantities. As far as I know.. ozone has no benefit in any health methods.
Advantages Only industrial advantages.
Disadvantages When used in small rooms it can be lethal, causes lung damage and can kill other living things like plants
Advantages It is highly porous and can adsorb gas,chemicals and liquids in various sequences and reactions. has no side effects.
Disadvantages It does stop absorbing once its saturated.. and could start to realease other harmfull gases if not replaced. You cant just put a carbon block in your room and expect it to adsorb air, it needs a pumping system or filtering system of some sort.
I hope that can answer your question a bit.
I would suggest finding the source of the smell and eradicating it with bleach/soap and/or other freshers/cleaners/chemicals. Then vent your room for 24hours.