The effect of fluctuations on the nonlinear response of an underdamped oscillator to an external periodic field at a subharmonic frequency has been investigated theoretically, numerically, and with an analog electronic circuit model. The system studied has often been analyzed in nonlinear optics in the context of two-photon absorption and second-harmonic generation. We consider its nonlinear spectroscopy. Its resonant nonlinear response is described over a broad range of the fluctuation intensities. It is shown that the fluctuation intensity can be used to "tune" the oscillator so as to maximize the nonlinear response. The dependence of the absorption cross section on the fluctuation intensity displays a clearly resolved maximum. If the eigenfrequency of the oscillator is a nonmonotonic function of its energy, the signal at the second harmonic displays a resonant peak at one of two different frequencies, depending on the noise intensity.