Toulon have wrapped up top spot in the group, but a win in the final game could still hand Blues a place in the last eight of European rugby this season.
The top six pool winners in the Heineken Cup and best two runners-up take their place in the quarter-finals.
But the next three best runners-up in the Heineken Cup group stages also get European rugby as they drop into the Amlin Challenge Cup quarter-finals.
"We have something big to play for in the final pool game," said Davies. "If we can dust ourselves off, go home and perform well in front of our own crowd we can still get something in Europe.
"If we can get four wins out of six I will be reasonably happy, and if that puts us into the quarter-finals of the Amlin Challenge Cup that would be terrific. To have something to play for going into game six is great.
"We know we are better than we displayed against Exeter on day one of this competition," he added.
"But that is long gone now, we have moved forward. They will be tough because they are a good team and they won't be happy with losing to Glasgow.
"It's a big challenge for us and if we perform well it is a game where we can get a result.
"However, if we don't perform they are good enough to cause us problems. But what is crucial is that we have got something to play for."
Blues will also this week monitor the fitness of Wales international prop Gethin Jenkins who was replaced at half-time in the defeat to Toulon in the South of France.
Davies added: "Gethin is sore at the moment and we will see how he goes. The same goes for Josh Navidi and his shoulder, we don't know the severity of either of them yet.
"We have just got to wait, give it 48 hours and see where we are after that timescale.
"Gethin was fantastic in the first half, with his leadership too. We are very lucky to have him and Sam Hobbs, who has led the team well over the last six or seven weeks.
"It is unfortunate for Gethin as he is a world class player. But we have got Sam who can step up now and take on the position if we need him."
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