While Coyle - who has signed a two-year contract extension - was thrilled to win promotion to the Premier League, he knows he needs to beef up his squad in this summer's window of transfer opportunity.
He said: "I would suggest we would need to strengthen every area to make sure we have a team capable of winning on a weekly basis. We are going to do everything in our power to do that.
"I have always targeted younger players, among others, in the hope they can improve.
"First and foremost they must have the ability to cope with the demands of the Premier League.
"I believe the young players we have can rise to the challenge. They can evolve and become quality Premier League players.
"But they need support along the way, so we certainly need to add to the squad. We have to be ready for the power and pace of the top flight."
Operational director Brendan Flood believes good housekeeping and a harmonious dressing room are vital tools to have if you are to be successful.
Flood used Newcastle as an example of how things can go seriously wrong on and off the pitch.
Now in the Championship, Mike Ashley has put the club up for sale for £100million.
Flood said: "When you see clubs falling apart, Newcastle for example, most people would lay the blame at Mike Ashley's door.
"He has probably mis-managed the club in a sense and that has drifted down to the players. There is a lot of disharmony there.
"It is about getting the belief and the stability at the top, getting a positive way of thinking, getting people who surround the players and make them feel good about being there.
"The players feel happy to be at this club. The lads deserve the chance to show what they can do in the Premier League."
Coyle revealed he had been negotiating with the board since the start of the year about a new deal.
"This has been going on for the best part of six months," he said. "We just had to ease off a bit because of our schedule at the end of the season.
"It was always going to come to fruition, it was always going to happen. We had agreed in principle what we were doing and I am glad it has been settled and we can now move on."