The Reds captain has said that he approves of the way that manager Brendan Rodgers is trying to shape the side, but feels that the club would find more consistent results by making a couple more additions to the squad.
"In general, I like the direction the club is going in, but the harsh reality is that we still need two or three big players who can help," Gerrard was quoted as saying in The Mirror.
"We were short before the last deadline and I think we struggled to find consistency because of that. The gap between us and, say, Manchester United is now severe, but I believe that – on our day – we can beat any team in the league.
"When we don't play well, we don't win. We need to find a way to win games when we're not really at our top level."
Liverpool have so far added Daniel Sturridge to their ranks in the transfer window.