Another way of matrix computation? Is there some decomposition involved?

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Suppose I have a LxM matrix A and a MxN matrix B. I can multiply them a I have learned by taking the rows of A and the columns of B and take the inner product of them.

But I can also do it in another way. I see in A columns and in B rows. Then I take the Kronecker product of the first column of A and the first row of B, which gives a matrix. I do the same for the second column of A and the second row of B and add this resulting matrix to the first one. Do this for all columns of A and rows of B and add the resulting matrices. You will get the matrix product of A and B.

Example:

A=(1 2)  B=(4 3)
  (3 4)    (2 1)

(1)*(4 3)=(4  3)   (2)*(2 1)=(4 2)
(3)       (12 9)   (4)       (8 4)

Add:

(8   5)
(20 13)

I there some decomposition involved?