Ferrari technical director James Allison has insisted that the team will push to improve all areas of their F14T, rather than focusing solely on the power unit or the aerodynamic capability of the car.
Ferrari sits in third place in the constructors' championship ahead of this weekend's Bahrain Grand Prix, 38 points down on early leaders Mercedes.
Fernando Alonso finished in fourth place in Malaysia, while Kimi Raikkonen was outside of the points following contact with McLaren's Kevin Magnussen.
"We are working in a constant way and with the highest levels of dedication in all the areas of potential development," said Allison.
"We brought a useful upgrade to the Malaysian Grand Prix and were duly rewarded with a more competitive performance than at the first race, but the whole team is in no doubt about the size of the challenge that remains ahead of us this season.
"We are not disregarding anything. Much has been spoken about the new power units on the 2014 cars, but it is rarely mentioned that 1% of engine power is not so different in its effect on the stopwatch as 1% of aero efficiency."
Allison emphasised that Ferrari can progress up the grid if the required improvements are made to the F14T.
"Our development programme will keep delivering steps to the efficiency of the F14-T; aero, power unit, mechanical grip – race by race these steps will help to hunt down those in front," he added.
"If we can keep up the progress that we made between Melbourne and Malaysia then it will start to tell in both in grid positions and in the Championship."