The Reds have lost their last three league games in a row and find themselves 10 points adrift of Arsenal in the race for the last Champions League qualification spot.
And, with Everton coming to Anfield on Tuesday night for a crucial Merseyside derby, Gerrard is adamant that the situation needs to improve - and quickly.
He told the club’s official website: "The players need to take responsibility for where we are in the league. It's just not good enough for a club like us to be there. We have to find a better level of consistency.
"We need a reaction and there's no better team to produce that against than Everton. These are the games you always look forward to. It's a night match and there's going to be a fantastic atmosphere at Anfield.
"It's important the players put in a performance and get a result for the fans. Everyone is a bit down after recent results but we want to put a smile back on their faces.
"It's a big week and we want to go into the cup tie with Stoke on the back of a win."
The England midfielder was delighted to end Liverpool's six-year wait for silverware when they won the League Cup last month, but Gerrard now believes that the club need to put that behind them and concentrate on finishing in the top four.
He added: "The [League] Cup was a fantastic achievement. Everyone connected with the club was delighted and rightly so. But it's gone now, it's been put to bed. We have to forget about that.
"We wanted to build on winning the [League] Cup by pushing for the top four but it hasn't happened so far as we've lost two on the bounce.
"The frustrating thing is we went from a fantastic performance, an eight or nine out of 10 against Arsenal, to a three or four out of 10 against Sunderland.
"We didn't deserve to lose to Arsenal. We should have had the points wrapped up at half-time.”
Everton are unbeaten in seven Premier League matches but have not won at Anfield since 1999, and Gerrard admitted that his side will be in for a tough test against David Moyes' men.
The Reds skipper observed: "Everton are doing well and are a decent side. David Moyes has made a few good signings for them in January, getting Steven Pienaar back and bringing in a striker [Nikica Jelavic].
"They seem to have done what they usually do and that's get stronger and stronger as the season goes on. But it doesn't matter what form you are in - that goes out of the window in derbies.
"These matches always have that extra bit of spice and edge because of the rivalry. Once that whistle goes, it's ferocious for the first 15 to 20 minutes and whoever takes control after that usually goes on to win it. Whoever wants it the most will come out on top. We have to show that desire."