The Rangers captain scored on Saturday as his side came back from a goal down to beat St. Johnstone 2-1 in the league away from home.
The 29-year-old has been a top performer for Rangers for several years and was pivotal as the club ended their long wait for a league title last season.
But 19-year-old Patterson emerged as a real option at right-back for Rangers as well last season and he has already broken into the Scotland squad as well.
Ferguson stressed that there is real competition for places in the Rangers squad at the moment and if players are not at their best in training and during games, they are likely to lose their spot in the team.
He insisted that the way Patterson has emerged from the Rangers academy, Tavernier has no option but to be at his best to keep his place in Steven Gerrard’s side.
Ferguson said on the Go Radio Football Show: “You want competition for places and it keeps you on your toes.
“It makes sure that when you go into that training ground you need to make sure that you are bang at it.
“Whether you are playing in Europe on a Thursday night or whether it’s a Saturday or a Sunday, you need to make sure that your performances are spot on.
“Because if they aren’t spot on, Rangers have got a big enough squad for people to come in and take their places.
“And for James Tavernier, he has got a fantastic young full-back breathing down his neck so he knows that he needs to perform now.”
Patterson has already featured 18 times for Rangers but has played just twice this season for the club.