The defeat, which followed a 24-15 loss at Northampton on the opening weekend of the competition, means Glasgow are likely to need to win all their remaining pool matches to reach the next stage.
But despite the task ahead Townsend is adamant his players can turn the tables, starting with victory over French side Castres at the Scotstoun Stadium on December 7.
"We have got four games to play and we'll have to win all four to qualify. I believe we have got a group of players who are capable of doing that," he said.
"By the time the games come around in December we should have a bigger squad with the players coming back from injury.
"We're clearly very disappointed not to have produced the win we all wanted for a great home crowd.
"The players battled very well the whole game long, but we didn't play consistently enough over the piece to win."
Elsewhere in the competition there was disappointment for Italian side Treviso as they went down 21-33 at home to Top 14 outfit Toulouse.
In what would have been a major shock Treviso led 18-9 at the break thanks to six penalties from fly-half Kris Burton.
Toulouse's Luke McAlister and Burton exchanged penalties after the break before the visitors' Vincent Clerc and Treviso's Robert Barbieri were sin-binned.
Toulouse got themselves back in the match, though, courtesy of a penalty try and then moved ahead when Louis Picamoles burst through to go over.
Treviso were tiring and the visitors extended their lead when McAlister chipped the ball on for Clerc to touch down under the posts.
Fellow Italian side Zebre also suffered defeat against French opposition as they lost 38-17 away at Biarritz.
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