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Given a vector space V over a field k, consiser its dual V'. An (m,n)-tensor is a multilinear ( (m+n)-linear ) map from V^m × (V')^n to k.
Vectors are (0,1)-tensors since they are canonically isomorphic to their respective evaluation functionals on V'. Matrices are (1,1)-tensors since for a matrix A, a vector v, and a linear functional p, we can define a (1,1)-tensor T(v, p) = p(Av) and identify this with A.
If you have an inner product, you can identify V and V', so you can think of tensors as multilinear maps on V. Then matrices A correspond to the tensor T(v, w) = <v, Aw> and vectors v correspond to T(w) = <v, w>.
The rank of a tensor means something somewhat similar to the rank of a matrix I suppose, but it's a bit more abstract since you lose some concreteness.