Boss Jim Magilton bemoaned his side's lack of resilience and composure after their run of away games without a win stretched to 16 at Leicester.
Magilton said: "Good footballers know how to play at home and away. You've got to play the conditions, recognise that the opponents have strengths and have the belief to go out and play.
"You need resilience and composure and the team doesn't seem to have those qualities at the minute.
"You've got to pick up points away from home if you want to get anywhere near the top six so at the moment I don't think we can be considered contenders."
The Town manager was unsurprisingly unhappy at the way the two goals were conceded: "The difference today was in both boxes.
"I thought Leicester showed a real desire to go and attack the ball and both goals were very disappointing.
"We know that Stephen Clemence has a great left peg, great delivery, but the first goal should have been dealt with and the second one was a free header.
"No matter what level you play at you cannot do that. But we are normally OK at that so I will put it down to a one-off.
"They were two bad goals, though. People didn't take responsibility for dealing with the crosses. No one got near Kisnorbo for the second goal and it was a needless foul by Gavin Williams in the first place.
"We huffed and puffed to get back in the game but I don't think we really worked their keeper. That said, Neil Alexander didn't have a lot to do either. It was a scrappy game and the only two real bits of quality led to the two goals.
"That's another away defeat now and the longer the run goes on without a win the more of a psychological problem it's going to become.
"I think once we get one under our belt others will follow, but we have got to have players that are prepared to dig in and get a result. That's what top players do."
Foxes boss Ian Holloway was pleased with his side's spirit as they picked up their first home win under his management: "The commitment we have showed in the last two games is what it's all about. The players have seen me assess everybody and they now have clarity about what is required and we are moving forward.
"That's two decent performances in a row and over the last 180 minutes the people wearing a Leicester City shirt have performed as if they were fans.
"We know we're good at set-pieces but I'd like to score a few more from open play. Hopefully, with the balance that I'll be able to bring in after the window, that will happen. I won't have a right-back playing on the wing, a centre-back in midfield, a centre forward on the left wing and I'll actually have some midfielders alongside Stephen Clemence.
"I've never seen such an unbalanced squad. We had a six-a-side game in training and it was goalkeepers versus right-backs. But I will sort that out and then we can move on."