The Welsh side are used to playing the part of underdogs in the Premier League but that role will be taken by their League Two opponents at Wembley.
Laudrup accepts that most neutrals will be supporting Bradford, who are the first fourth tier club since Rochdale in 1962 to reach the final of the competition, and he is keen for them to adapt to their change of status.
"I would think if you go back, it's very rare to see a major final between a small team in the top flight and a team from the lower leagues," said Laudrup.
"When teams from lower down get to the final it is normally against Manchester United, Manchester City, Chelsea, Arsenal, Tottenham or Liverpool - like when Birmingham played Arsenal.
"This is different because although we are one of the lower teams, we have to accept we are favourites and we must take the initiative in the game.
"We have no problem with that and we accept the majority of people will want Bradford to win as they are the underdogs.
"We have seen what they have done to Wigan, Arsenal and especially to Aston Villa over two legs.
"It is fantastic, if you say what we have done is a fairytale, then the fact Bradford are there is a huge fairytale."
Laudrup also confirmed that Chico Flores has, as expected, failed to recover after rupturing ankle ligaments in the 4-1 win over QPR.
Either Kyle Bartley or club captain Garry Monk will partner Ashley Williams in defence in Flores' absence.
"Chico tried today to go out and train, but it was much too early, we all knew that," added Laudrup.
"It is an injury you would normally estimate to be out for four to eight weeks and this Saturday would be two weeks (since the injury).
"It is such an important game but today he realised it is much too soon and he has to accept the fact."
Meanwhile, the Swansea manager will keep faith with Gerhard Tremmel in goal at Wembley ahead of Michel Vorm, with the German having started in all previous rounds of the tournament.
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