Have you learned about transformations of functions, in particular the horizontal stretch or compression? That is what b does.
In particular, as your title says, it determines the period (by stretching or shrinking the graph horizontally). Taking the simplest case, [MATH]y = \sin(bx)[/MATH], notice that the start of one cycle of the sine is when the argument [MATH]bx = 0[/MATH], and the end is when [MATH]bx = 2\pi[/MATH]. Those are, respectively, [MATH]x=0[/MATH] and [MATH]x=\frac{2\pi}{b}[/MATH]. That is why the period is [MATH]\frac{2\pi}{b}[/MATH].