The Hughie Morrison-trained four-year-old has next month's Melbourne Cup as his primary target after two Group race victories in French staying contests this year.
Bowman was on hand to partner his big-race mount in a five-furlong spin at Werribee on Tuesday and despite dropping back in in trip for Saturday's Group One, he expects Marmelo to be in the shake-up.
"He had a pretty firm gallop on Friday and I feel that it did its job because he was much more on the bridle today, much more alert and aware of what he was up to," Bowman told www.racing.com.
"It's a long time since he's raced over 12 furlongs and we are aware of that.
"He's here for the Melbourne Cup and the Caulfield Cup is obviously a good stepping stone towards that, but judging on what I'm feeling, I think he'll run a very good race on Saturday.
"I just want a trouble-free run and if things go our way there's no reason why he can't win the race."
Marmelo is one of 17 horses declared for the Caulfield Cup, with Aidan O'Brien's Johannes Vermeer and the Willie Mullins-trained Wicklow Brave also taking their chances.
Marmelo will break from stall 10 with Johannes Vermeer in two and Wicklow Brave in 16.
Admire Deus was expected to run but the former Japanese star sustained a serious leg injury in his final piece of work on Tuesday morning.