Plone user accounts can be assigned to groups. Take Site Administrators as example, how can I send emails to members of this group? I see an Email field in Group Properties tab, can I utilize this Email field for sending group emails?

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Yes and no; the email address you see in the Plone UI is just a piece of metadata, it doesn’t auto-magically email all the members of the group. You’d have to add each and every user you assign to that group to an email list (be it with a list manager or a manually administered alias) by separate means for that to work.
However, you could loop over all group members, get an email address for each (provided they have one registered), and then email them all: