A genetic model is derived for studying the effects of chemical kinetics and mass transfer on extractive reaction processes. Activity-based models are used to describe nonideal liquid-liquid phase equilibrium and reaction kinetics. Maxwell-Stefan formulation and the film model are used to describe multicomponent mass transfer. The effects of kinetics and mass transfer are described in terms of Damkohler number matrices for reaction and for mass transfer, respectively. The elements of these matrices measure the rates of reactions and mass transfer relative to product removal. These effects are demonstrated using examples of systems with inherent phase separation and systems with solvent-induced phase separation. The results show that it may not always be beneficial to operate extractive reaction processes near the equilibrium thermodynamic limit. Damkohler numbers have to be chosen carefully to obtain the desired peformance. The use of the model in evaluating performance trade-offs and in making judicious choices about reactor attributes is demonstrated.