Any approach to interaction is confronted with the dilemma of reconciling the empirical fact that meaning is locally and interactionally managed, as shown by conversation analysis, with the fact that conversations are subject to genres that impose conventionalized expectations for allowable contributions and inferences, as advocated by the ethnography of communication. This theoretical paper attempts to overcome this challenge by integrating Langacker’s current-discourse-space model with Barsalou’s dynamic model of situated conceptualization. With reference to these frameworks, the paper sketches a grounded socio-cognitive model of meaning construction in context that combines the situated interactional negotiation of meaning with the discursive knowledge that underlies speech genres in the form of genre-simulators. To substantiate and illustrate the theoretical considerations, the paper draws on two extracts from spoken tourist-information transactions.