The Welsh club suffered a dramatic 4-3 defeat at Liberty Stadium after falling three goals behind before half-time.
And although Laudrup was pleased with the way Swansea fought back in the second half to rescue some pride, the Dane could not hide his disappointment at the performance.
"We did not play well," he told Sky Sports. "It was a great reaction in the second half but, obviously, when you give away three goals, it is difficult."
He added: "It was a great second half but I do not think we deserved to win today after that first half."
Norwich's dream first half came courtesy of goals from Steven Whittaker, Sebastien Bassong and Grant Holt.
Swansea at least came out fighting in the second half and Michu and Jonathan de Guzman set up a nervy finish.
But Robert Snodgrass' free-kick meant Michu's late header in injury time had little impact as Swansea went on to win their first away game of the Premier League season.
Laudrup knew the highs of results such as last weekend's unforgettable win at Arsenal could not go on forever and he wants his plays to remember about the rollercoaster nature.
"I knew a reaction would come to all the good things that have happened recently, the great wins," he said.
"I did not know it would come today but it did. So I think it should be a lesson for us."