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Toshack said of Brian Little's side: "I'm disappointed they weren't able to turn things around.
"The situation at the end of last season must have been a real wake-up call for them.
"From the Monday morning after that last game, you get at it right through the summer. I didn't expect this to be happening to them this year."
He also says Martinez has to experience a different side to management after leading them to League One success this season.
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Toshack said: "Roberto now has to see another side of the job. There is always a tendency to be faithful to the ones who got you to a higher level.
"But a percentage of them are not going to be good enough to play at that level.
"Moving up a level, he'll need to fill in areas where they will need improving."