The Saints will go into Tuesday's pool draw for the 2011/12 campaign determined to avenge their bitter defeat to Leinster in last month's final.
"We are a good enough team to go away and build from it," said Foden.
"We have shown we can compete with some of the best teams in Europe. I think we are a good enough side to rebuild and make sure we are there or thereabouts again next season."
Northampton are one of four English teams to be ranked as second seeds, having been edged out of the top bracket by East Midlands rivals Leicester.
The seeding system is based on performances in the Heineken Cup and Amlin Challenge Cup over the past four years.
Defending European champions Leinster will be first out of the hat followed by fellow top seeds Toulouse, Munster, Cardiff Blues, Biarritz and Leicester.
The six clubs will be allocated a pool each and then joined by a team from each of the next three tiers of seeds.
Clermont Auvergne, Ospreys, Bath, Harlequins and London Irish are ranked as second seeds alongside Northampton.
Aviva Premiership champions Saracens are grouped with Ulster, Gloucester, Glasgow and the Scarlets as third seeds.
Sarries' teenage fly-half Owen Farrell said: "This club can be what it wants to be. We have created something special and this is the start of it.
"We want to go far in the Heineken Cup and we want to be in the Premiership final every year."
Irish province Connacht will make their Heineken Cup debut as fourth seeds, along Racing Metro and Top 14 runners-up Montpellier.
TIER 1 - Leinster, Toulouse, Munster, Cardiff Blues, Biarritz Olympique, Leicester Tigers
TIER 2 - Northampton Saints, ASM Clermont Auvergne, Ospreys, Bath Rugby, Harlequins, London Irish
TIER 3 - Ulster Rugby, Saracens, Gloucester Rugby, Glasgow Warriors, Scarlets, Edinburgh
TIER 4 - Connacht Rugby, Benetton Treviso, Castres Olympique, Montpellier, Racing Metro 92, Aironi Rugby.
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The Barbarians are one of the top invitational rugby sides with a long history and classic rugby jersey.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Lions get ready for their matches with this green training jersey. It's what the players wear. Get in the Gear!
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
$29.99
The Lions are ready to get their Australia tour underway. They arrive in Perth on Monday.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.
