The lift lets you pull the blind up, and the tilt lets you angle the slats to let more or less light in. You will usually be asked which side of the blind you want the controls on. Sometimes there will be a choice about the type of control as well. The slats are the strips of wood, vinyl, aluminum, etc, that make up the blind. Groovers are a special hardware option used only with fabric vertical blinds.
Groovers are long plastic sleeves that the fabric slides into.
This gives the fabric more support. You may be asked to choose a groover color as well. Holding all those slats together is the ladder . Standard ladders are thin cords that are threaded through each slat. In some cases, you may be able to substitute a cloth tape for a ladder.