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Martinez told the club's official website: "Today was extremely disappointing. We were excited about playing at home and looking forward to giving our fans the right performance to start the season with.
"The opposition have come here with a great attitude, great desire and it's helped them to a great start to life in the Premier League. For us, off the ball we weren't good enough. We didn't react or sense the danger quick enough and allowed Blackpool to leave us exposed.
"In the second-half the reaction was there. We took control of the game, but all the things that could have gone wrong did go wrong today. The fourth goal was one you couldn't see coming after a strong second-half performance from us and in a way summed up our day.
"Individually and collectively we were not good enough and there is much to put right.When you achieve promotion you're full of confidence and cannot wait to get going.
"We knew it was a bad time to play them, but take nothing away from their performance, they deserved their victory and we're just disappointed that we couldn't match them.
"The way we approached the game in the first-half was unacceptable and we need to make sure we learn the lessons for next week's game against Chelsea.
"It's going to take time for certain players to gel in and realise the demands of the Premier League, but nevertheless it's disappointing to start in this manner."