City have brought in Alvaro Negredo, Jesus Navas, Fernandinho and Stevan Jovetic so far this summer in a £90million investment under new boss Manuel Pellegrini.
Toure believes the signings were necessary to improve the team after City fell short in all competitions last season.
"I'm glad these players have come because we needed it," said Toure, quoted in the Daily Mail.
"They're unbelievable players - Negredo, Navas, Fernandinho and Jovetic, who is a great young talent with a fantastic future.
"We think we have the right players and if we perform like we should then we'll have a very good chance of winning trophies.
"When you lose you must not have done something right. Last season we were a step away from winning the FA Cup but Wigan were better than us.
"In the Premier League and Champions League we were disappointing. We have to be honest and say Manchester United were much better than us.
"This year we want to do the job. The club want to improve in every aspect because we know we have a great challenge against Chelsea, Arsenal, United, Tottenham and Liverpool.
"It's important for me and the club. I know how much everyone desires it. The fans only want to see one Manchester club profit."