Boasting some of the most eye-catching names in the division and a stadium and fanbase to match, Wolves, who were playing Premier League football less than nineteen months ago, are seen by many as the biggest club in City's league.
The West Midlanders head to the Coral Windows Stadium three points off the top of the table with a game in hand and unbeaten away from their Molineux home so far this season.
Far from be overawed by Saturday's opponents though, Parkinson believes the Bantams will be relishing the chance to pit their wits against one of League 1's heavy promotion favourites.
Parkinson said: "We have the utmost respect for them (Wolves) - they have an excellent manager and some great players - but we've played some big teams on our own patch over last twelve months.
"Wolves are another one, but we are not playing Wolverhampton Wanderers the club out there, we are playing against eleven players. We will concentrate on playing the eleven players that are pitted against us and not the name of the club.
"As we said before the Preston game, these sort of games are the ones we worked so hard to get when we were striving to get out of League 2. When these games come around, like Saturday, we have to make sure we enjoy them. We'll only enjoy them by playing well.
"Wolves are probably the biggest club in the division with the biggest resources as well. There should be a cracking atmosphere around the ground and it is one we are definitely looking forward to.
"We know what we have to do as a team. We have a game plan and a strategy to go into this game with and it is very important that we implement that. I felt we did that against Preston. We had individuals who stuck to their jobs.
"Obviously you are always disappointed when you concede goals, but Tuesday's performance overall was a good one. When we have discussed with the players in the past, we find we are all singing from the same hymn sheet. We know that a lot of our success over the last year or so has been built on hard-work and togetherness.
"We will need both of those things in abundance Saturday."
Wolves are scheduled to bring around 3,000 fans along with them for the journey north to Yorkshire, meaning City could be in line to at least match the 18,000 crowd figure that came to see the Sheffield United game back in August.
Parkinson added: "There should be a great atmosphere. There was a bit of publicity during the week about the new singing section has been introduced at Old Trafford. We'll need three stands in our singing section for the game on Saturday.
"We have certainly had that in our home games previously this season, and if we can out-sing the Wolves fans and drown them out, then that is obviously going to help."
After playing his first full game in City colours against Preston North End during the week, former Middlesbrough defender Matthew Bates is set to be handed his home debut by Parkinson for the Wolves fixture.
For Bates, the game will be only his third fixture out on the pitch for the Bantams but City's chief is already impressed by his recent acquisition.
Parkinson continued: "I don't think his quality is in doubt.
"He is the sort of player who is a captain. One of the main things that has impressed me the most since his arrival here is his talking on the pitch. His communication is Premiership level.
"I like the way he goes about his business and so far he has been great for us.
"I feel he is enjoying his time here at the moment and he just wants to get back playing again.
"He has certainly made a contribution already."