By combining the nonconserved spin-flip dynamics driving ferromagnetic ordering with the conserved Kawasaki-exchange dynamics driving phase segregation, we perform Monte Carlo simulations of the nearest-neighbor Ising model. This kind of mixed dynamics is found in a system consisting of a binary mixture of isomers, simultaneously undergoing a segregation and an interconversion reaction among themselves. Here, we study such a system following a quench from the high-temperature homogeneous phase to a temperature below the demixing transition. We monitor the growth of domains of both the winner; the isomer, which survives as the majority; and the loser, the isomer that perishes. Our results show a strong interplay of the two dynamics at early times, leading to a growth of the average domain size of both the winner and loser as ∼t^{1/7}, slower than a purely phase-segregating system. At later times, eventually the dynamics becomes reaction dominated and the winner exhibits a ∼t^{1/2} growth, expected for a system with purely nonconserved dynamics. On the other hand, the loser at first show a faster growth, albeit, slower than the winner, and then starts to decay before it almost vanishes. Further, we estimate the time τ_{s} marking the crossover from the early-time slow growth to the late-time reaction-dominated faster growth. As a function of the reaction probability p_{r}, we observe a power-law scaling τ_{s}∼p_{r}^{-x}, where x≈1.05, irrespective of the temperature. For a fixed value of p_{r} too, τ_{s} appears to be independent of the temperature.