The Reds are currently in fourth place in the table, eight points adrift of leaders Arsenal.
"I think we'll need to strengthen the squad and overall quality [to become title contenders]," Rodgers said in a press conference. "It's only natural.
"The players have been brilliant this season in terms of what they've produced. We'll look to continue to develop the squad, then when we do that, I think we can be there."
Liverpool will take on Arsenal at Anfield in the early kickoff on Saturday.