The Merseyside giants only finished in fourth place last season, but Klopp has been provided with the funds to make four high-profile additions over the summer.
The German has played down spending over £160m in the transfer market, but he has indicated that he has set high targets for his team.
At a press conference, the 50-year-old told reporters: "My expectations are always high. We will try to reach the highest place.
"It is pretty normal that some point we would spent more money than other years. You have to create a squad which is strong enough and wide enough to cope with the Premier League.
"People ask if it is the best squad but I don't think about it. It is about how we deliver and how we fight against the other Premier League teams."
Liverpool begin the top-flight campaign with a home fixture against West Ham United on Sunday afternoon.