The Grecians came into the match hoping to break into the top six after a fine run of form but had no answer as goals from Michael Kay and Enoch Showunmi, added to Lucas Akins' brace, as Rovers secured their npower League One status.
Tisdale said: "We were well beaten. That is a fair assessment. Tranmere deserved the victory - there is no doubt about it.
"I thought we were fabulous in the first half and stood up to them well until the 44th minute goal. I made a double substitution later to be more attacking, but they scored very soon afterwards and there was no way back for us.
"The play-off dream is over. We have come up just a bit short. There were some good individual performances and I'm not too disappointed with the play, but I certainly am with the result.
"At only 1-0 down, we were still in with a chance, but goals decide matches and we could not come up trumps on this occasion."
Source: PA
Source: PA